Perplexity AI Inc., a startup known for its AI-powered search engine that rivals Google, has secured fresh funding of 100 million, pushing its valuation to 18 billion, according to a source familiar with the matter. This latest round extends a previous funding round from a few months ago, during which the company was valued at 14 billion. The continued investor interest reflects the broader trend in Silicon Valley to support leading companies in the generative AI space.

Perplexity did not comment on the funding round. However, some details were previously reported by the Financial Times. Established in 2022, Perplexity has quickly gained recognition as a key player in the AI industry, using generative AI to rethink fundamental internet services. Over the past year, the startup experienced a rapid rise in valuation, going from 1 billion to 3 billion, and then tripling again in the following months.

In March, it was reported that the company was seeking to raise up to 1 billion at an 18 billion valuation. Although it initially accepted a smaller amount at a 14 billion valuation, the recent funding now brings it back in line with its original target. The deal emphasizes the growing confidence of investors in Perplexity's potential and the ongoing momentum in the AI sector.