Perplexity AI Inc., a company developing an AI-powered search engine to compete with Google, has secured $500 million in new funding. According to reporting by Shirin Ghaffary for Bloomberg, the investment was led by Institutional Venture Partners and values the company at $9 billion. The valuation represents a dramatic increase from the company’s $3 billion valuation in June 2023. Founded in 2022, Perplexity distinguishes itself by providing real-time information through its AI chatbot interface. The company serves over 15 million active users and offers both free and paid search tools, along with specialized features for organizational document search and financial data analysis. Notable investors include SoftBank Group Corp., Jeff Bezos, and Nvidia Corp. The funding comes as major tech companies like OpenAI, Microsoft, and Google are increasingly integrating AI features into their search products.