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 in2014), 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 Chromebrowser, 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 Chromebid 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 featuresinternally [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[https://www.insidermonkey.com/blog/ubs-flags-concerns-as-apple-considers-largest-ever-acquisition-of-perplexity-ai-623456].
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 techfirms [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[https://www.reuters.com/legal/us-justice-dept-proposes-ban-google-default-search-payments-2025-07-15/].
11. Bloomberg noted that Google’s payments to Apple for default search placement exceed $18 billion annually, a revenue stream under increased regulatory scrutiny[https://www.bloomberg.com/news/articles/2025-06-20/apple-executives-internal-talks-to-buy-perplexity#xj4y7vzkg].
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-enhancedinformation 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‐breakingdeal 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 pocketson 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 growthprofile
– 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 atprice 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.