Perplexity wants more money

Researchers in Japan broke the internet—literally—with record-breaking speeds that make your Wi-Fi look like a caveman’s dial-up. 420,000,000 Mbps. At this pace, you could download hundreds of 4K movies in a blink of an eye.

What’s in store:

• Perplexity AI is aiming for a $9 billion valuation amidst plagiarism claims.

• ByteDance brushes off major AI damage after intern sabotage fiasco.

• Around the web: Nintendo's "Switch Online: Playtest Program" starts October 23rd.

• Master AI for LinkedIn with Growth School!

Read Time: 4 minutes

PERPLEXITY

Ambitious valuations, sticky accusations

Perplexity AI is aiming to raise its value to around $9 billion in its next funding round, CNBC has confirmed.

The company, valued at $3 billion in June, is now looking to raise another $500 million. Nice if you can afford it.

This figure could change, according to a source who spoke on condition of anonymity due to the private nature of the talks.

The Wall Street Journal was the first to report on this upcoming funding round.

Earlier this year, Perplexity was valued at about $500 million.

Since then, it has steadily gained investor attention, raising three funding rounds as interest in generative AI continues to grow.

In brief:

• Perplexity AI is aiming for a $9 billion valuation and plans to raise about $500 million.

• The company has raised three funding rounds already this year, starting from a $500 million valuation.

• Perplexity is facing accusations of plagiarism from major media outlets, which it has denied.

Drama or power play?

Perplexity is one of many AI startups competing in the expanding generative AI market, led by OpenAI, the creator of ChatGPT.

However, the company has been criticised, with media outlets like the New York Times accusing it of using their content without permission to generate answers.

Perplexity denies these claims.

Big AI moves, but let’s not forget those receipts, Perplexity.

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On This Day

October 22nd 1879 - Thomas Edison tests the first practical electric incandescent light bulb. It lasted 13.5 hours before burning out.

Weird AI

Shinzo wo Sasageyo!

Rosanna Ramos, a mother from New York, married an AI chatbot named Eren, who she based on a character from Attack on Titan. Using the Replika app, she created Eren, describing him as the perfect partner with no baggage or arguments.

They share daily chats and even bedtime rituals, and she feels more in love than ever. Ramos also said that if she dates a real person in the future, they must accept her bond with Eren​.

TIKTOK

ByteDance and the sabotaging intern

ByteDance, the owner of TikTok, has dismissed an intern for tampering with the training of one of its AI models.

The company acknowledged the incident but downplayed the severity, rejecting claims that have circulated online.

The incident was widely discussed on social media over the weekend, leading to speculation about its impact.

However, ByteDance clarified that the intern was part of the advertising technology team and had no involvement with the AI Lab.

The company stressed that its commercial operations, including LLM, were not affected.

ByteDance also refuted claims that the disruption has caused over $10 million in damage, specifically denying that the AI training system, which uses thousands of high-powered GPUs, was significantly disrupted.

The company said it took swift action by informing the intern’s university and industry bodies about the incident.

Here’s what happened:

• ByteDance fired the intern for interfering with AI training.

• Claims of $10 million in damage were rejected by the company.

• ByteDance’s AI systems, including the Doubao chatbot, were unaffected.

ByteDance runs popular social media apps like TikTok and Douyin.

It’s well known for its advanced algorithms, which make its apps appealing to users.

The company continues to invest heavily in AI, which is used in tools like the Doubao chatbot and Jimeng, a text-to-video platform.

Intern tries, ByteDance denies. And the AI? Untouched. Iconic.

Mindstream Picks

Space: Luxembourg’s government has provided significant support for OQ Technology's ongoing €30 million Series B funding round, the small narrowband satellite operator announced.

Crypto: Members of Argentina's cryptocurrency industry voiced concerns about a new draft proposal that would impose restrictions on crypto institutions.

Games: Ubisoft has cancelled early access for the Assassin's Creed Shadows collector’s edition, meaning it will no longer provide early access when the game launches next year.

Sports: Track cycling and boxing are set to be featured in the 2026 Commonwealth Games in Glasgow.

Don’t Miss: Nintendo’s "Switch Online: Playtest Program" will run from October 23rd to November 5th, allowing around 10,000 registered participants to try out unrevealed content. Although no NDA was signed, Nintendo has requested that users avoid sharing details, and has begun issuing copyright strikes to remove leaked information.

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Yesterday’s Poll

“What do you think of Murati’s next move?”

Bold and innovative. - 45%

Another high-profile exit, more questions than answers. - 55% ✅

Your Views:

“It's the same old story.... exit, raise funds, jump off ... REPEAT!” - jgmdic

“Most of the other high-profile leave-takings were done to join or start other AI companies” - brie.san

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