AI startup Perplexity has successfully raised $500 million in a funding round, bringing its valuation to $9 billion. This marks a substantial increase from its initial valuation of $1 billion at the start of the year. Throughout 2024, Perplexity has raised over $1 billion in total capital and reported revenue of approximately $35 million, with 15 million active users. The company aims to enhance its AI-powered search engine capabilities and has also announced the acquisition of Carbon to integrate directly with professional applications. In related news, real estate venture capital firm Fifth Wall is raising $500 million for a new fund, known as the Fifth Wall REACT Fund, as part of its ongoing investment strategy.