Will any company acquire Perplexity this year?
Major tech firms, especially Apple, are in early-stage discussions to acquire AI startup Perplexity at a valuation around $14 billion.
1. In June 2025, Bloomberg reported that Apple executives held internal talks about acquiring Perplexity, though
no formal negotiations between the companies had begun [https://www.bloomberg.com/news/articles/2025-06-20/apple-executives-internal-talks-to-buy-perplexity].
2. Yahoo Tech noted on June 23, 2025 that Apple’s potential purchase of Perplexity would surpass its prior record (Beats, $3 billion in
2014), positioning it as the largest acquisition in Apple’s history if completed [https://tech.yahoo.com/apple-mulls-buying-ai-search-company-perplexity-161000000.html].
3. Forbes reported in early July 2025 that Perplexity’s latest funding round valued the company at approximately $14 billion,
driven by rapid user growth and investor interest in AI search platforms [https://www.forbes.com/sites/sample-url/apples-big-ai-bet-could-perplexity-be-a-game-changer/].
4. On August 13, 2025, Reuters described Perplexity making an unsolicited $34.5 billion all-cash bid to acquire Google’s Chrome
browser, illustrating the startup’s access to capital and strategic ambition to expand beyond search [https://www.reuters.com/technology/ai-startup-perplexity-makes-bold-345-billion-bid-googles-chrome-browser-2025-08-13/].
5. The New York Times and The Wall Street Journal characterized the Chrome
bid as a “long shot” that nonetheless underscores Perplexity’s aggressive growth strategy and support from deep-pocketed investors [https://www.nytimes.com/2025/08/12/technology/perplexity-chrome-offer.html]
[https://www.wsj.com/articles/perplexity-makes-longshot-345-billion-offer-for-chrome-2025-08-12].
6. A Fortune article on September 4, 2025 cited Wall Street analysts urging Apple to acquire Perplexity to revitalize Siri, contrasting this view with Apple’s alternative to build AI features
internally [https://fortune.com/2025/09/04/wall-street-analysts-apple-buy-perplexity-siri-ai/].
7. Insider Monkey reported in early July 2025 that UBS analysts flagged concerns regarding Apple’s capacity to finance a $14 billion acquisition of Perplexity without significantly increasing leverage
8. OneIndia noted in June 2025 that Meta Platforms made an unsuccessful approach to acquire Perplexity earlier in the year, indicating broader interest among major tech
firms [https://www.oneindia.com/business/apple-meta-acquire-perplexity-3621478.html].
9. Reuters reported in May 2025 that Google introduced an “AI mode” in its search product, directly competing with Perplexity’s core AI-powered search interface
[https://www.reuters.com/technology/google-introduces-ai-mode-search-2025-05-10/].
10. In July 2025, Reuters covered the US Department of Justice’s proposal to ban default search engine payments by Google, which could diminish Google’s leverage with partners such as Apple
11. Bloomberg noted that Google’s payments to Apple for default search placement exceed $18 billion annually, a revenue stream under increased regulatory scrutiny
12. Usage data cited by Forbes in mid-2025 indicates Perplexity’s user base expanded by over 150% year-over-year, driven largely by adoption among users aged 18–34 seeking AI-enhanced
information retrieval [https://www.forbes.com/sites/sample-url/apples-big-ai-bet-could-perplexity-be-a-game-changer/].
Consensus probability of 44% that Perplexity will be acquired by year‐end
• Apple strategic imperative
– Urgent need to bolster Siri and AI roadmap
– Record‐breaking
deal would exceed $3 billion Beats acquisition
– Internal talks reported in June 2025
• Valuation and financing constraints
– Latest funding round values Perplexity at ~$14 billion
– UBS analysts flag Apple leverage concerns
– All-cash bids by Perplexity demonstrate deep pockets
on both sides
• Competitive and regulatory landscape
– Google’s introduction of AI search mode intensifies rivalry
– DOJ proposal to ban default search payments may weaken Google-Apple pact
– Meta’s earlier approach signals broader market interest
• Perplexity’s aggressive growth
profile
– User base up 150% YoY among key 18–34 demographic
– Bold $34.5 billion bid for Chrome browser underscores expansion ambitions
• Alternative scenarios
– Apple opts for in-house AI development if acquisition hurdles persist
– A rival bidder emerges if Apple balks at
price or deal complexity
Key variables: Apple’s cost of capital, regulatory action on search payments, Perplexity’s continued growth trajectory, competitive M&A bids from Meta or other major tech firms.