AI startup Perplexity is in talks for a new round of financing worth $500 million, with a valuation reaching $14 billion.

According to reports, artificial intelligence (AI) search startup Perplexity, supported by NVIDIA Corporation (NVDA.US), is in late-stage negotiations with investors for a new round of funding, with a valuation of $14 billion. Sources revealed that the funding for this round is expected to reach $500 million and may be led by venture capital firm Accel. Perplexity did not immediately respond to requests for comment. In December last year, the company's valuation was $9 billion after receiving investments from several institutional venture capital firms. This startup has also received support from numerous investors, including Amazon.com, Inc. (AMZN.US) co-founder Jeff Bezos, and is focused on developing an AI-driven search engine to challenge Alphabet Inc. Class C's (GOOGL.US) dominant position in the search field. Of note, Apple Inc. (AAPL.US) executive Eddy Cue confirmed earlier this month that the iPhone maker has been in talks with Perplexity as Safari browser search traffic declines.