Nvidia is in talks to invest in AI search company Perplexity at a valuation exceeding 30 billion dollars, a figure that would more than double what the startup was worth just twelve months ago.

The proposed funding round is said to be worth several billion dollars and would mark a substantial milestone for a company that has been growing at considerable pace. Perplexity’s annualised revenue has climbed to more than 750 million dollars, up from under 250 million dollars at the start of the year. A significant portion of that growth has been attributed to Perplexity Computer, an AI agent that helps professionals automate tasks on their machines.

The two companies have already been drawing closer together. Nvidia had previously explored a multibillion-dollar licensing arrangement that would have given it access to Perplexity’s technology, as part of its broader effort to develop its own AI models and software.

Nvidia’s role in the AI startup ecosystem is well established. The chipmaker has effectively acted as a major financial backer across the sector for several years, channelling billions of dollars into companies that in turn use that capital to rent or purchase Nvidia’s hardware. Chief executive Jensen Huang has also spoken openly about using Perplexity as his go-to AI chatbot, lending the startup a degree of personal endorsement that carries genuine weight in the industry.

The potential deal fits within a broader push by Nvidia beyond chips and data centre infrastructure. Last week, the company agreed to pay six billion dollars to licence AI model development software from Poolside, while also investing one billion dollars in the firm at a pre-money valuation of twelve billion dollars. Late last year, Nvidia acquired technology from AI inference company Groq and brought on several of its team members, even as Groq said it would continue operating independently.

Taken together, the moves point to a company increasingly active as both investor and strategic partner across the AI software landscape, not simply a supplier of the hardware that powers it. No formal announcement regarding the Perplexity investment has been made.