Perplexity Hits Funding Milestone as NVIDIA Targets Acquisition of Run:ai
AI Startups are shining!
Created on April 24|Last edited on April 24
Comment
Perplexity Raises New Funding
San Francisco-based AI-native search company Perplexity has recently announced its new funding round, raising $62.7 million and bringing its valuation to $1.04 billion. Founded by Aravind Srinivas, Denis Yarats, Johnny Ho, and Andy Konwinski in the summer of 2022, Perplexity quickly launched its innovative "answer engine" late that year. The company, recognized for its unique approach to search that eschews traditional blue links in favor of narrative answers, has now raised a total of $165 million.
The round was notably led by Daniel Gross, former AI head at Y Combinator, with contributions from figures like OpenAI cofounder Andrej Karpathy and AngelList founder Naval Ravikant. Perplexity boasts a growing annualized revenue between $15 and $20 million, primarily from its subscription service Perplexity Pro. This service provides enhanced search capabilities and direct access to leading language models like OpenAI’s GPT-4. The company is exploring new revenue streams, including potential advertising models, while competing with major players like Google in the AI-driven search arena.
Nvidia Expands Its AI Reach with Run:ai Acquisition
In other news, Nvidia is on the cusp of completing a $700 million acquisition of Israeli startup Run:ai. Founded in 2018, Run:ai has made a name for itself with a Kubernetes-based platform designed to optimize AI workloads on GPUs, a critical component for modern AI applications. This acquisition marks Nvidia's largest in Israel since the Mellanox deal in 2019 and highlights Nvidia’s commitment to enhancing its AI infrastructure capabilities.
Run:ai's technology allows for dynamic allocation and virtualization of GPU resources, enabling more efficient scaling across various AI tasks. This feature is vital for Nvidia as it continues to support expansive AI applications and development. With the integration of Run:ai's team into Nvidia’s local R&D center, Nvidia not only bolsters its technological edge but also strengthens its operational presence in Israel.
Conclusion
These developments from Perplexity and Nvidia underscore the vibrant activity in the AI sector, with startups achieving significant valuations and established tech giants continuing to invest heavily in AI infrastructure.
Add a comment
Tags: ML News
Iterate on AI agents and models faster. Try Weights & Biases today.