Perplexity Offers $34.5 Billion for Chrome

Perplexity AI made a $34.5 billion all-cash offer for Google’s Chrome browser. The move is a part of efforts to usurp Google's web search dominance. Perplexity said it has several investors, including large venture capital funds, lined up to back the deal.

The AI company has a browser called Comet, but acquiring Chrome would enable it to better compete against rivals. Perplexity vowed in a term sheet to keep the underlying Chromium browser code open source, invest $3 billion over two years, and not make any changes to Chrome’s default search engine.

OpenAI was reportedly mulling a deal to acquire Chrome in April. In 2024, the US Department of Justice called for Google to offload its Chrome browser as part of proposed remedies to restore competition in the search market, but the company has not shown any intent to sell the browser. It intends to appeal a court’s ruling that it holds a monopoly, which led to the government's call. An appeals judge is expected to make a ruling this month on how to restore competition across the sector.

Estimates of Chrome’s enterprise value vary widely, with recent ones ranging from $20 billion to $50 billion. Perplexity’s offer could be a signal to the appeals court judge that there is an interested buyer, should they follow through on the forced sale. Perplexity wrote to Google and Alphabet CEO Sundar Pichai, explaining its offer for the browser is designed to satisfy an antitrust remedy in the highest public interest by placing Chrome with a capable, independent operator.