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SoftBank Group Corp.'s Vision Fund 2 is investing in the US AI startup Perplexity AI, valuing the company at $3 billion. This investment, ranging between $10 million and $20 million, is part of a larger $250 million funding round that triples Perplexity's valuation, making it one of the industry's top-valued companies.
This move signals SoftBank's intention to significantly increase its investments in AI. Recently, Masayoshi Son, SoftBank’s founder, outlined an ambitious vision for the future of AI, aiming to develop "artificial super intelligence" (ASI), which he described as AI thousands of times smarter than humans. This is Son's boldest vision since SoftBank's previous investments in startups faced challenges.
Son expressed to investors at an annual shareholders meeting that his lifelong goal is to achieve ASI. The deal with Perplexity AI, however, is not yet finalized, and terms could change. Representatives from both companies declined to comment on the ongoing discussions, although TechCrunch has reported some details of the funding.
SoftBank's investment strengthens its existing partnership with Perplexity, which includes offering a free one-year subscription to SoftBank’s Japanese wireless customers. Perplexity, less than two years old, differentiates itself by providing real-time information and positions itself as an "answer engine" that delivers text results instead of links.
The startup has faced some controversy over its news summary product, particularly regarding proper credit to news outlets. SoftBank plans to further enhance its AI services, having already invested $200 million in Tempus AI, a medical data analysis startup, and is setting up a joint venture in Japan.
Additionally, SoftBank aims to invest $100 billion in AI-related chips through a project called Izanagi, as reported by Bloomberg News. Son reaffirmed his commitment to achieving significant results with Izanagi during a recent shareholder meeting, though he did not provide further details.
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