Perplexity AI in talks to double valuation to $18 billion, raise up to $1 billion in new funding

Perplexity AI is in early talks to raise between $500 million and $1 billion in funding at an $18 billion post-money valuation, a source familiar with the situation told CNBC. The new funding would double the artificial intelligence startup's most recent valuation. Perplexity has just under $100 million in annual recurring revenue, or ARR, according to the source, who asked to remain anonymous due to the confidential nature of the talks.