According to a report by Bloomberg News on Thursday, Japanese technology investor SoftBank Group Corp’s Vision Fund 2 is investing between $10 million and $20 million at a valuation of $3 billion in the U.S. search firm Perplexity AI.

SoftBank plans to contribute this sum as a component of a broader $250 million capital round, according to the article, which cited people with knowledge of the situation.

The parameters of the agreement might yet alter because it hasn’t been finalised, it warned.

There were no comments in the issue from SoftBank and Perplexity.

Users may obtain immediate answers to inquiries with references and citations using Perplexity’s search capabilities. It is driven by many huge language models, ranging from OpenAI to Meta’s open-source model Llama, which can create summaries and produce information.

In January, Nvidia and Amazon founder Jeff Bezos contributed $73.6 million to San Francisco, California-based Perplexity AI, which was valued at $520 million.

The business has previously stated that in 2023, it handled over 500 million searches with no marketing expenditures.

(Adapted from Bloomberg.com)