Perplexity AI made a $34.5 billion unsolicited all-cash offer for Alphabet's Chrome browser on Tuesday, a bid far above its own valuation as the startup reaches for the browser's billions of users pivotal to the AI search race.

According to a new report, Perplexity AI is set for another fundraise, this time at a $20 billion valuation, a move that comes on the heels of its bid to buy Google Chrome.

The browser is slated to launch in the coming weeks and aims to use artificial intelligence to fundamentally change how consumers browse the web.