Perplexity tried to sponsor an F1 team — but got blocked by a bigger tech company

The high-stakes world of Formula 1 racing just became the latest battleground for AI companies.

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’s biggest sponsor, according to sources familiar with the matter and documents viewed by The Verge.

All new Red Bull Racing partnerships need to be approved by Oracle, the…