Artificial intelligence startup Perplexity AI has made waves with an unsolicited $34.5 billion all-cash offer to acquire Alphabet’s Chrome browser — a daring move that would require financing well beyond the company’s own $14 billion valuation.
The bid, revealed on August 12, 2025, comes at a time when Google faces heightened regulatory scrutiny. The U.S. Justice Department has sought a possible Chrome divestiture as part of remedies in a landmark antitrust case, after a court ruled last year that Google held an unlawful monopoly in online search. Google has vowed to appeal the ruling and has not indicated any intention to sell Chrome.
A Pattern of Bold Proposals
Led by CEO Aravind Srinivas, Perplexity is no stranger to audacious offers. Earlier this year, the three-year-old startup proposed merging with TikTok U.S. in a bid to address American concerns over Chinese ownership of the video app.
Acquiring Chrome would instantly give Perplexity access to more than three billion users worldwide, strengthening its position in the rapidly evolving AI search market. The company already operates an AI-powered browser, Comet, but the scale of Chrome would provide a direct challenge to giants like OpenAI, which is also reportedly working on its own AI browser and has expressed interest in buying Chrome.
Financing the Mega Deal
Perplexity, backed by investors including Nvidia and SoftBank, has so far raised around $1 billion. The company did not disclose how it plans to fund the acquisition, but sources told Reuters that multiple investment funds have offered to finance the deal in full, though no names were revealed.
Terms of the Offer
According to a term sheet seen by Reuters, Perplexity has pledged to:
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Keep Chromium, Chrome’s underlying code, open source.
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Invest $3 billion over two years to enhance the browser.
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Maintain Chrome’s current default search engine.
The company emphasised that the offer includes no equity component, a move it says would preserve user choice and reduce competition concerns.
Analysts Skeptical of Sale
Market experts doubt Google will part with Chrome, given its pivotal role in the company’s AI strategy — including the integration of AI-generated search summaries (“Overviews”) aimed at defending its dominant market share. If regulators attempt to force a sale, analysts predict Google would mount a lengthy legal battle.
Some valuations place Chrome far above Perplexity’s bid. Gabriel Weinberg, CEO of rival search engine DuckDuckGo, has suggested Chrome could be worth at least $50 billion in a forced divestiture scenario.
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In addition to Perplexity and OpenAI, Yahoo and private equity firm Apollo Global Management have also reportedly expressed interest in acquiring Chrome. A federal judge is expected to rule on remedies in Google’s antitrust case later this month — a decision that could determine whether any sale is even on the table.