Perplexity AI, backed by tech giant Nvidia and billionaire Jeff Bezos, has announced plans to introduce ads on its AI-powered search platform by the fourth quarter. This move follows the launch of a startup program for publishers, which includes notable partners such as TIME, Der Spiegel, and Fortune. The AI company aims to share revenue from interactions where a publisher’s content is referenced.

In April, Perplexity AI successfully raised approximately $62.7 million from both existing and new investors, including Garry Tan and Brad Gerstner, CEOs of Y Combinator and Altimeter Capital, respectively. This fundraising round has doubled Perplexity AI’s valuation to over $1 billion.

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The Alleged Monopolist’s Reign Is Over?

Since the launch of ChatGPT in November 2022, numerous search engines have sought to integrate AI into their web search capabilities. While some have succeeded, others continue to face challenges. Analysts suggest that AI-assisted search poses a significant threat to Google’s substantial user base in the search market.

Google has maintained a dominant position in the search industry for years, but advancements in AI by competing search engines may soon challenge this status. Microsoft has incorporated OpenAI technology into its Bing search engine, while Google introduced AI-powered summaries to the public at its developer conference in May.