Nvidia in talks to back Perplexity at over $30 billion

Nvidia is in discussions to invest in Perplexity AI at a valuation exceeding $30 billion. Neither company has confirmed the talks, and no agreement has been reached.

Perplexity's annualised revenue has climbed above $750 million, up from less than $250 million at the start of the year, aided by Perplexity Computer, a cloud-based AI agent built for professional users to automate computer-based tasks.

The talks fit a pattern in Nvidia's recent dealmaking: rather than only selling the chips that power AI inference, the company has increasingly taken direct stakes in labs built on top of its hardware, following a licensing-and-hiring deal with Poolside on 21 August and a $20 billion licensing deal for Groq's technology in December 2025.

A stake in the application layer gives Nvidia a second claim on AI search's growth, beyond the chips running underneath it.