Perplexity AI, an artificial intelligence-powered search platform backed by Nvidia and Amazon founder Jeff Bezos, announced on Thursday that it plans to introduce advertising on its platform by the fourth quarter of 2024. This strategic move marks a significant step in the monetisation of AI-driven search technologies.
Last month, Perplexity AI launched a program for publishers, collaborating with partners including TIME, Der Spiegel, and Fortune. This approach not only incentivizes publishers to contribute content but also aligns Perplexity AI's growth with the success of its partners.
Since the launch of OpenAI's ChatGPT in November 2022, the landscape of web search has been rapidly evolving. Analysts have identified AI-driven search capabilities as a challenge to Google’s long-standing dominance in the search engine market.
Microsoft, leveraging its early investment in OpenAI, has incorporated advanced AI technology into its Bing search engine. In response, Google rolled out AI-powered summaries for its search engine during its developer conference in May, highlighting the competitive nature of this emerging field.
In April 2024, Perplexity AI secured $62.7 million in a funding round that included both existing investors like Nvidia and new participants such as Garry Tan, CEO of Y Combinator, and Brad Gerstner, founder and CEO of Altimeter Capital. This infusion of capital valued the company at over $1 billion, effectively doubling its valuation from just three months earlier.
As Perplexity AI prepares to introduce advertising on its platform, the integration of ads will provide a new revenue stream, enabling the company to sustain its growth and leap forward.
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