Perplexity AI Plans To Bring Ads On Its Search Platform By The Fourth Quarter — Details

Perplexity AI has announced that it plans to introduce ads on its search platform by the fourth quarter.

By : Aashish Kumar Shrivastava | Updated at : 24 Aug 2024 02:26 PM (IST)

Perplexity AI Introduce Ads On Search Platform By Fourth Quarter Perplexity AI Plans To Bring Ads On Its Search Platform By The Fourth Quarter — Details

Perplexity AI is backed by Nvidia and billionaire Jeff Bezos.

Perplexity AI, backed by tech giant Nvidia and billionaire Jeff Bezos, has recently said that it plans to bring ads on its artificial intelligence (AI) powered search platform by the fourth quarter. Earlier last month, Perplexity AI launched a startup programme for publishers with an initial batch of partners that comprised TIME, Der Spiegel, and Fortune. The AI company plans to share revenue from interactions where a publisher's content is referenced.

Earlier in April, Perplexity AI successfully raised about $62.7 million. This amount was raised by both existing investors like Nvidia as well as new investors, including Garry Tan, and Brad Gerstner, who are the CEOs of Y Combinator and Altimeter Capital, respectively.

This fundraising round doubled Perplexity AI's valuation from three months back and valued it at more than $1 billion.

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The Alleged Monopolist's Reign Is Over?

ChatGPT was first launched in November 2022 and it emerged as a juggernaut in the world of AI, since then, a number of search engines have attempted to integrate AI into web search. Some have been able to do it successfully to at least some extent, while others are still trying to. As per analysts, this AI assisted search is a huge threat to the large userbase that Google enjoys currently in the market when it comes to search.

It is pretty evident that Google has been enjoying having a dominant position in the search industry for a long time now but, with the advancement of other search engines in terms of AI, the day might not be very far when it would lose that edge.

Microsoft adopted OpenAI technology for its Bing search engine from its early investments, whereas Google rolled out AI-powered summaries for the wider public at its developer conference in May.