While the search engine artificial intelligence Purple Lexity AI, which...
While the search engine artificial intelligence Purple Lexity AI, which created Purple Lexity, is attracting $500 million (about 710 billion won) in investment, the company's value is reported to be close to $14 billion (about 20 trillion won).
The Wall Street Journal (WSJ) reported on the 12th (local time) that Purple Lexity AI is in the final stages of investment attraction negotiations and has been valued at $14 billion through this investment attraction. As of December last year, Purple Lexity AI's corporate value increased 1.6 times compared to $9 billion, a four-fold increase from $3 billion in June last year.
Purple Lexity AI in the AI Market
Purple Lexity AI is one of the leading companies in the generative AI market, including open AI. It is not a chatbot close to an agent like OpenAI, but an AI (artificial intelligence)-based search engine company that challenges Google's stronghold, which occupies 90% of the global search market.
As ChatGPT launched its search function at the end of October last year, it also became a competitive relationship with OpenAI.
Features of Purple Lexity AI
Purple Lexity AI uses AI to provide summary answers in the form of reports using information collected from the web. Since it specifies the source of the answer, it has the advantage of significantly reducing hallucinations, a chronic problem of AI.
Revenue and Growth
It is known that the annual recurring sales (ARR) earned by Purple Lexity AI's subscription service is close to $100 million.
