Perplexity CEO Aravind Srinivas has pushed back on allegations of copyright infringement by media outlets.SAUL LOEB/Getty ImagesNews Corp. has accused AI startup Perplexity of copyright infringement in a new lawsuit.Perplexity is eyeing a massive funding round this year, The Wall Street Journal had reported.Here's what you need to know about the buzzy, controversial company.Perplexity, the hot AI startup aiming to compete with Google that has earned the ire of several prominent media organizations, is eyeing a massive funding round — which could mark its fourth raise this year.The AI-fueled search engine is in talks to raise $500 million at an $8 billion valuation, The Wall Street Journal reported on Sunday, a big jump from the company's $3 billion valuation this summer.Perplexity has been raising buckets of cash while it clashes with top publications, which have accused the company of improperly accessing and using their content.On Monday, the Journal and New York Post filed a lawsuit against the company, becoming the latest to level accusations against Perplexity and highlighting the ongoing tensions as media companies grapple with AI's ascent.Perplexity did not immediately respond to a request for comment from Business Insider.Here's everything you need to know about the company's rise and the allegations it's facing.Big-name investorsPerplexity was cofounded in 2022 by Aravind Srinivas, Denis Yarats, Johnny Ho, and Andy Konwinski.