AI upstart Perplexity shocks tech world with $34.5 billion bid to snatch Google Chrome

Time of India

a day ago

Perplexity Chrome latest news
:
In a surprising move that's rippling through the tech world, artificial intelligence startup
Perplexity AI
has made an unsolicited $34.5 billion offer to acquire
Google
's Chrome browser, as per a report.
Perplexity AI's Bid Exceeds Own Valuation But Secures Investor Support
The bold bid is notable not just for its size, as it exceeds Perplexity's own valuation, but also for its timing. The startup, which was valued at $18 billion in July after an earlier $14 billion valuation, said that it has secured support from several investors to back the offer, as reported by CNBC.
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Perplexity's AI Search Engine and New Comet Browser
Perplexity is best known for its AI-powered search engine, designed to answer users' questions clearly while linking to original source material on the web, according to the report. Just last month, the company launched its own browser, called Comet, powered by the same AI-driven approach, as per the CNBC report.
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Competing with Tech Giants in the Race for AI Dominance
The AI firm is fighting to keep pace with AI giants like Meta and OpenAI, raising billions of dollars from venture investors, hedge funds and tech giants to pay for the hardware and headcount needed to compete, while a potential buyout from Meta fell through earlier this year, according to the report.
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Legal Pressure Mounts on Google Over Chrome Monopoly
The startup's offer comes amid Google's ongoing legal troubles, as the US Department of Justice had proposed that Google divest Chrome as part of an antitrust suit the tech giant lost last year, and the judge ruled that Google had held an illegal monopoly in internet search, as reported by CNBC.
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Why Divest Chrome? DOJ Sees It as a Key to Fair Competition
The DOJ had highlighted that divesting Chrome, which Google launched in 2008 to provide the search giant with data it then uses for targeting ads, would prevent Google from continuing to control a critical entry point to the internet, and would give rival search engines a fairer shot at competing, according to the report.
In a court filing, the DOJ wrote that, 'To remedy these harms, the [Initial Proposed Final Judgment] requires Google to divest Chrome, which will permanently stop Google's control of this critical search access point and allow rival search engines the ability to access the browser that for many users is a gateway to the internet,' as quoted by CNBC.
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Google Pushes Back Against DOJ Proposal
Google has pushed back and even called the DOJ's proposal 'wildly overbroad', accusing the agency of pursuing a 'radical interventionist agenda,' as per the report. However, the tech company has not yet revealed any plans of it will adjust its business in response to the ruling, according to the CNBC report.
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FAQs
How much did Perplexity offer to buy Google Chrome?
Perplexity made an unsolicited bid of $34.5 billion for Google's Chrome browser, as per the CNBC report.
Why is Perplexity interested in Chrome?
Chrome is a major gateway to the internet, and owning it would give Perplexity a powerful position in search and browsing.