Apple Inc.’s stock has had a rough go of it during the first half of the year. President Trump’s tariffs caused have weighed on the company, as investors continue to gauge what the full cost to its business will be.

A nearly 3-year-old AI startup has reportedly caught the attention of two of the largest and most influential tech companies, underscoring the fierce competition for AI talent and push to become leaders in what some believe will be the next major evolution of the internet.

Perplexity provides real-time answers to questions using the latest information from the web. The company recently said it is handling 780 million queries each month with that figure increasing more than 20% month over month. Google shares reversed gains and fell nearly 1% in late trading after Bloomberg reported on Apple’s Perplexity discussions.