Google Google states that in most cases, they don't follow nofollow links, nor do these links transfer PageRank or anchor text values. Essentially, using nofollow causes Google to drop the target links from their overall graph of the web. Nofollow links carry no weight and are interpreted as HTML text (as though the link did not exist). That said, many webmasters believe that even a nofollow link from a high authority site, such as Wikipedia, could be interpreted as a sign of trust. Bing & Yahoo! Bing, which powers Yahoo search results, has also stated that they do not include nofollow links in the link graph, though their crawlers may still use nofollow links as a way to discover new pages. So while they may follow the links, they don't use them in rankings calculations.

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