Perplexity AI: First ChatGPT, Now Rival Google – Yahoo Finance
Privately-held artificial intelligence (AI) start-up Perplexity AI is slaying competition left, right, and center. Its advent first seemed to challenge OpenAI’s ChatGPT, and now Perplexity is contesting with tech giant Alphabet’s (GOOGL) (GOOG) Google Search engine. Perplexity is a free-for-all, AI-backed search engine company that seeks to offer the most accurate, reliable, and real-time answers to users’ queries.
According to the Financial Times, Perplexity has reached a monthly revenue rate of seven times the amount generated at the beginning of 2024. The company is on track to reach annualized revenues of $35 million this year, up from its prior expectation of only $5 million. This is possible because Perplexity has been able to massively boost the number of queries answered on its platforms. In July, Perplexity’s search platform answered approximately 250 million queries, a staggering growth compared to 500 million questions in the full year 2023.
Perplexity came into being…
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