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Perplexity AI in Talks to Raise Funds at $18 Billion Valuation Amid AI Boom

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Perplexity AI, an emerging player in the AI search tool market, is in discussions to raise funds at a new valuation of $18 billion, a significant increase from its previous $9 billion valuation in November. The startup, which is backed by Nvidia, Amazon’s Jeff Bezos, and Japan’s SoftBank Group, is capitalizing on the surging demand for AI-driven search tools.

The company aims to raise between $500 million and $1 billion in this funding round, sources familiar with the matter told Reuters. The heightened interest in AI-powered chatbots and virtual agents has fueled investor enthusiasm for startups like Perplexity AI, which competes with established players such as Google’s Gemini and Microsoft-backed OpenAI’s ChatGPT.

Perplexity has been enhancing its platform to improve its competitive edge. Recently, it introduced a new web browser, Comet, which integrates AI to understand complex queries, perform tasks, and make decisions. Its “Deep Research” feature allows users to conduct in-depth research by searching through numerous sources, offering a more comprehensive overview on various topics.

Despite facing criticism from media outlets like News Corp-owned Forbes and Wired over accusations of plagiarism, Perplexity has forged partnerships with publishers to address these concerns.

The ongoing fundraising talks underscore the growing potential of AI startups, as companies like OpenAI also continue to dominate the sector with massive valuations, such as their $157 billion valuation following a $6.6 billion funding round in October.

French Quantum Computing Firm Pasqal Partners with NVIDIA to Boost Quantum Applications

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Pasqal, a rapidly growing French quantum computing startup, has announced a strategic partnership with Nvidia (NVDA.O) to enhance its quantum applications development tools. Through this collaboration, Pasqal’s customers will gain access to NVIDIA’s open-source platform, CUDA-Q, for improved quantum computing capabilities.

The partnership aims to integrate Pasqal’s quantum computing units and cloud platform with CUDA-Q, providing a powerful interface and programming model for high-performance computing. This move is expected to accelerate the development of quantum applications, benefiting both the high-performance computing community and the broader quantum industry.

Loic Henriet, CEO of Pasqal, emphasized that the collaboration would provide a much-needed interface for developers and further fuel innovation in the quantum computing space.

Founded in 2019, Pasqal has already secured over 140 million euros ($151.8 million) in funding, marking it as a significant player in the growing quantum computing sector.

Micron Forecasts Strong Revenue Growth Driven by High AI Memory Chip Demand

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Micron Technology (MU.O) has forecasted a robust third-quarter revenue, exceeding Wall Street estimates, driven by growing demand for its high-bandwidth memory (HBM) chips crucial to artificial intelligence (AI) models. This surge in AI-related demand sent Micron’s shares up by 2% in after-hours trading.

The company highlighted that AI demand is significantly boosting the need for HBM chips, a specialized form of dynamic random access memory (DRAM) vital for advanced AI systems, particularly those powered by Nvidia’s (NVDA.O) processors—one of the major beneficiaries of the AI boom.

Micron’s Chief Business Officer, Sumit Sadana, told Reuters that the company expects continued sequential growth through 2025, driven by increased capacity and market share in HBM production. Notably, Micron’s HBM chips for 2025 are already sold out, reflecting strong demand.

In addition to HBM chips, Micron also provides flash memory NAND chips, with demand expected to rise across both data center and consumer markets. The company forecasts significant profitability improvements for fiscal 2025, which ends in August.

Michael Ashley Schulman, Chief Investment Officer at Running Point Capital, emphasized Micron’s key role in supplying essential memory components for AI infrastructure, noting that the company’s positive outlook underscores its importance in the rapidly expanding AI sector.

Micron’s forecast includes anticipated revenue of $8.80 billion, with a margin of plus or minus $200 million for the third quarter. This exceeds the consensus estimate of $8.5 billion. For the second quarter ending February 27, Micron posted revenue of $8.05 billion, surpassing the $7.89 billion estimate, with earnings per share of $1.56, well above the $1.42 forecast.

However, Micron also acknowledged the uncertainty surrounding potential new tariffs imposed by the Trump administration, stating that it has not factored the potential impact into its forecasts but plans to pass any costs on to customers.