Perplexity AI is reportedly gearing up for a new funding round with a targeted $20 billion valuation, a move that could bolster its recent unsolicited $34.5 billion offer to acquire Google Chrome.
The proposed $20 billion valuation represents a $2 billion increase from Perplexity’s previous $18 billion valuation in July 2025, underscoring the company’s rapid growth trajectory. This valuation marks a significant 3,746% surge in the company’s worth since January 2024, when it was valued at $520 million.
Perplexity’s bid for Google Chrome is set against the backdrop of an ongoing antitrust case against Google, with a U.S. district court judge expected to rule soon. The potential ruling could force Google to divest Chrome to mitigate its dominance in the web search market. Notably, Perplexity is not the only player interested in acquiring Google’s browser; other significant players reportedly include OpenAI, Apollo Global Management, and Yahoo.
The company has achieved substantial growth, with an annual recurring revenue of $80 million and 22 million monthly active users, according to data from DemandSage. This growth is part of a broader trend where AI is intensifying competition in the web search market. AI models like ChatGPT and Gemini frequently leverage internet sources, providing citations to enhance their credibility.
In to the evolving to the evolving landscape, OpenAI announced plans in July 2025 for its own web browser to compete with Google Chrome. Perplexity has already launched its AI browser, named Comet. The web browser market is not without its challenges, as browsers, including Chrome, have been targets for hackers. Notably, in October 2024, the Lazarus Group exploited a Chrome vulnerability via an NFT game, and earlier, in June 2024, hackers utilized a Chrome plugin to steal from Binance accounts.
