AI startup Perplexity is reportedly negotiating to secure up to $1 billion in funding, which could elevate its valuation to $18 billion. According to Bloomberg, Perplexity's annual recurring revenue has now reached $100 million, reflecting significant growth. This potential funding round would effectively double its valuation from $9 billion just a few months ago. In response to mounting competition, including recent advancements from Google and Anthropic, Perplexity is expanding its offerings, including the upcoming launch of its 'agentic' browser, Comet.