Perplexity’s agent pivot paying off

Source: BusinessToday, Tech Startups Date: 2026-04-08/10

Summary

Perplexity revenue surged 50% in one month after shifting from search to AI agents, now $450M+ ARR. Launched “Billion Dollar Build” — 8-week competition using Perplexity Computer to build companies, with up to $1M investment and $1M in credits for finalists. Registration opens April 14.

Implications

Another data point for the agent economy accelerating. Perplexity going all-in on agentic, not search. The “Billion Dollar Build” competition is a distribution play — building an ecosystem of agent-built companies on their platform. Maps to Nate’s “distribution” as a durable layer.