Perplexity CEO Aravind Srinivas has repeatedly confirmed a 2028 IPO target in 2026 interviews, citing the company’s deliberate strategy to remain private while scaling its AI answer engine and agent products. This stance has held firm despite confidential IPO filings by competitors Anthropic and OpenAI, reinforcing trader consensus around the 64.5% market-implied probability of no listing before 2028. Perplexity’s annualized revenue reached roughly $750 million by August 2026, with its last priced valuation near $20–23 billion and unconfirmed talks of a higher round involving Nvidia. The extended runway from strong private growth and enterprise traction reduces near-term pressure to list, though any shift in leadership guidance or macroeconomic conditions for AI equities could still alter timelines.