{"id":55578,"date":"2025-08-09T19:22:11","date_gmt":"2025-08-09T19:22:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/55578\/"},"modified":"2025-08-09T19:22:11","modified_gmt":"2025-08-09T19:22:11","slug":"perplexity-tried-to-sponsor-an-f1-team-but-got-blocked-by-a-bigger-tech-company","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/55578\/","title":{"rendered":"Perplexity tried to sponsor an F1 team \u2014 but got blocked by a bigger tech company"},"content":{"rendered":"<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph _1ymtmqpi _17nnmdy1 _17nnmdy0 _1xwtict1\">The high-stakes world of Formula 1 racing just became the latest battleground for AI companies.<\/p>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph _1ymtmqpi _17nnmdy1 _17nnmdy0 _1xwtict1\">AI-powered search startup Perplexity has been in negotiations to sign a sponsorship deal with Red Bull Racing, worth $5 million a year. But after both parties had agreed to the terms, the deal was blocked by Oracle, the team\u2019s biggest sponsor, according to sources familiar with the matter and documents viewed by The Verge.<\/p>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph _1ymtmqpi _17nnmdy1 _17nnmdy0 _1xwtict1\">All new Red Bull Racing partnerships need to be approved by Oracle, the team\u2019s biggest sponsor. Their five-year deal, signed in 2022, is worth <a href=\"https:\/\/www.reuters.com\/lifestyle\/sports\/oracles-red-bull-f1-title-sponsorship-deal-worth-300-mln-sources-2022-02-11\/?utm_source=chatgpt.com\" rel=\"nofollow noopener\" target=\"_blank\">around $300 million<\/a> and is considered to be one of the most significant partnerships in Formula 1. Oracle and Red Bull Racing did not respond to repeated requests for comment. Perplexity declined to comment on the negotiations.<\/p>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph _1ymtmqpi _17nnmdy1 _17nnmdy0 _1xwtict1\">This partnership would have marked one of Perplexity\u2019s first major sponsorships, and about 1 percent of the startup\u2019s latest funding round. The nearly three-year old company <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-18\/ai-startup-perplexity-closes-funding-round-at-9-billion-value\" rel=\"nofollow noopener\" target=\"_blank\">recently closed<\/a> a $500 million funding round, tripling its valuation to $9 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"The high-stakes world of Formula 1 racing just became the latest battleground for AI companies. AI-powered search startup&hellip;\n","protected":false},"author":2,"featured_media":55579,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[554,1687,372,6537,101,227,56,54,55],"class_list":["post-55578","post","type-post","status-publish","format-standard","has-post-thumbnail","category-f1","tag-ai","tag-f1","tag-formula-1","tag-formula1","tag-sports","tag-tech","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/55578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=55578"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/55578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/55579"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=55578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=55578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=55578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}