SoftBank to back AI startup Perplexity at $3 billion valuation
SoftBank Group Corp.’s Vision Fund 2 is investing in US artificial intelligence startup Perplexity AI at a $3 billion valuation, Masayoshi Son’s latest bet on a sector he deems crucial to securing his legacy.
SoftBank will invest between $10 million and $20 million in the firm, which aims to use AI to compete with Alphabet Inc.’s Google search, according to people familiar with the matter. It’s investing as part of a larger $250 million funding round that triples Perplexity’s valuation and makes it one of the industry’s most highly valued companies.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitThe deal underscores how SoftBank’s preparing to sharply accelerate its pace of AI investment. Its billionaire founder last week laid out a sprawling vision for the future of AI, including a commitment to realize what he called “artificial super intelligence”. Son talked about creating AI thousands of times smarter than any human, making his most grandiose pronouncements since SoftBank retreated from the market following a string of ill-timed startup bets.
“We’ve done many things, but all that’s been a warmup for my dream to realize ASI,” he told investors at an annual shareholders meeting on Friday. “This is what I was born to do.”
The deal hasn’t been finalized and its terms could still
