Perplexity CEO Aravind Srinivas reinforced in June 2026 that the AI search company plans its IPO no earlier than 2028, a stance independent of rival filings by OpenAI and Anthropic and consistent with prior statements. This explicit timeline has anchored trader consensus around the 64% implied probability of no IPO before 2028, as the firm prioritizes private growth amid rising annualized revenue above $750 million. Private valuations near $20 billion as of late 2025, with unconfirmed talks of higher marks, keep lower market-cap outcomes modestly priced while limiting enthusiasm for near-term listings. Limited new catalysts since the June confirmation sustain the market's emphasis on the delayed timeline over immediate public-market scenarios.