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Perplexity To Reach A $9 Billion Valuation Amid NTY Controversy
- Written by Andrea Miliani Former Tech News Expert
In a Rush? Here are the Quick Facts!
- An anonymous source confirmed Perplexity is about to close a $500 million deal that would value the AI company at $9 billion
- The New York Times is currently in a legal battle against Perplexity
- Perplexity’s CEO, Aravind Srinivas, offered the company’s AI services to the journal to compensate for striking tech workers, intensifying the debate
The AI-powered search company Perplexity is set to raise $500 million in a new funding round that would value the company at $9 billion.
According to Reuters , an anonymous source familiar with the matter with the matter confirmed the information.
The rumors of Perplexity raising $500 million had been spreading for the past few days. This time, it has been confirmed that the funding round is being led by Institutional Venture Partners (IVP) and that it is at its final stage.
In January, after a series B funding where the AI startup raised $73.6, the company was valued at $520 million. After multiple funding rounds this year, Perplexity’s valuation has skyrocketed to an estimated $9 billion after this new round deal.
However, the company has engaged in disputes with the New York Times (NYT). Last month, the news company issued a cease-and-desist letter against Perplexity , accusing the startup of plagiarism and copyright violation.
According to Tech Crunch , on Monday, the New York Times tech workers went on strike after the newspaper refused to meet their demands—like an annual 2.5% wage increase and a two-day a week in office requirement, and Aravind Srinivas, Perplexity’s CEO, jumped in the discussion suggesting to help the newspaper replaced workers’ tasks with their AI tool.
“Hey AG Sulzberger @nytimes – sorry to see this. Perplexity is on standby to help ensure your essential coverage is available to all through the election. DM me anytime here,” wrote Srinivas from his verified X account , addressing Arthur Gregg Sulzberger, NYT’s chairman, for his message of being disappointed in the journalists who went on strike during election week.
Many users attacked and criticized Srinivas for stepping on the discussion and offering AI replacement. Perplexity’s CEO had to clarify his intentions: “The offer was not to ‘replace’ journalists or engineers with AI but to provide technical infra support on a high-traffic day.”
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Nintendo Says Current Switch Games Will Be Compatible With New Console
- Written by Andrea Miliani Former Tech News Expert
- Fact-Checked by Sarah Frazier Former Content Manager
In a Rush? Here are the Quick Facts!
- Nintendo confirms that the new console will be compatible with Nintendo Switch games and services
- Players infer the next console will be a Switch 2, and investors expect the same
- The video game company’s shares rose 5.8% in Japan after the announcement
Nintendo announced today that its upcoming Switch console will be compatible with current Nintendo Switch Online games and services during its midyear policy briefing.
“This is Furukawa. At today’s Corporate Management Policy Briefing, we announced that Nintendo Switch software will also be playable on the successor to Nintendo Switch,” wrote Shuntaro Furukawa, President of Nintendo, through Nintendo Corporate’s official account on X today.
“Nintendo Switch Online will be available on the successor to Nintendo Switch as well. Further information about the successor to Nintendo Switch, including its compatibility with Nintendo Switch, will be announced at a later date.”
Many users reacted to the announcement and shared their thoughts. “Seriously important news for physical collectors especially,” wrote a user. “If it’s still called Nintendo Switch Online, then this successor is definitely Switch 2,” added another.
According to CNBC , after today’s announcement, the company’s shares closed 5.8% higher in Tokyo.
“I believe investors want Nintendo to adopt the iPhone approach of gradually improving a winning product instead of trying to reinvent the wheel with every new console generation,” said Serkan Toto, CEO of Tokyo-based games consultancy Kantan Games to CNBC.
While many players expect the official announcement of the new console, the video games company provided more details on the current business situation.
In an official presentation PDF shared publicly, Furukawa showed a decrease in sales and profits during the first half of this year. Nintendo Switch console sales dropped 31% compared to the previous year, but the company noted that, compared to other Nintendo Platforms, sales remain strong for the beginning of its 8th year.
A few days ago, Nintendo launched a new music app featuring the company’s game soundtracks and officially opened the doors for its new Nintendo Museo in Japan .
