AI upstart Perplexity shocks tech world with $34.5 billion bid to snatch Google Chrome
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Perplexity AI's Bid Exceeds Own Valuation But Secures Investor Support
Perplexity's AI Search Engine and New Comet Browser
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Legal Pressure Mounts on Google Over Chrome Monopoly
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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's Chrome browser, as per a report.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.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.ALSO READ: Is it AI or Trump's policies? US sees brutal 140% layoff spike in July, worst surge since early COVID chaos 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.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.ALSO READ: Giant Wyoming data center to guzzle 5x more power than residents, but the user remains secret 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.ALSO READ: Is Google's AI revolution a threat to website traffic for digital publishers? Here are strategies to stay ahead 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.ALSO READ: As the July jobs report paints a grim picture, 114 companies plan layoffs in August - is yours on the list? Perplexity made an unsolicited bid of $34.5 billion for Google's Chrome browser, as per the CNBC report.Chrome is a major gateway to the internet, and owning it would give Perplexity a powerful position in search and browsing.
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