The potential deal comes as Perplexity's business is accelerating. Its annualized revenue has reportedly climbed from under $250 million to more than $750 million this year, fueled in part by its AI agent product, Perplexity Computer.
For Nvidia, the investment would deepen its growing role beyond selling GPUs. The chip giant is increasingly putting money into the AI companies that drive demand for its infrastructure — effectively investing across the AI stack.
And Perplexity is becoming a particularly interesting bet. It is no longer positioning itself simply as a Google alternative; its push into AI agents, search and automated tasks puts it directly in the middle of the next phase of the AI race.
The bigger story is the valuation.
A company that was valued at roughly $20 billion about a year ago could soon be worth more than $30 billion. That kind of jump shows just how aggressively investors are pricing the future of AI-powered search and agents.
Nvidia may be betting that the next major AI winners won't just be model makers.
They'll be the companies building the interfaces and agents people use every day.
If Perplexity continues its growth, Nvidia's investment could give it exposure to another critical layer of the AI economy — while strengthening the demand for the computing infrastructure that Nvidia dominates.
For now, though, this remains a reported investment discussion, not a completed deal.
