Perplexity AI, backed by Jeff Bezos, has begun fundraising talks to more than double its valuation to $8 billion or more, the Wall Street Journal reported on Sunday.

Perplexity has told investors it is seeking to raise about $500 million in the new round of financing, the Journal reported, citing people familiar with the matter.

The Nvidia-powered artificial intelligence (AI) company currently has estimated annualized revenue of about $50 million based on recent sales, the report added.

In October, the startup announced that it had been asked by the New York Times to stop using the newspaper’s content for generative AI purposes.

Perplexity has previously faced accusations from media organisations such as Forbes and Wired that it plagiarised their content, but has since launched a revenue-sharing programme to allay concerns raised by publishers.