Perplexity AI's last priced valuation sits near $20-23 billion following its January 2026 Series E round, with secondary marks holding around $19.7-21.7 billion as of mid-October. Revenue run rate has reached $750 million annualized by August, tripling from early 2026 levels on the back of Perplexity Computer agent adoption and usage-based pricing, implying roughly 27-40x multiples. The key near-term catalyst remains unresolved August talks for a Nvidia-led round above $30 billion, which has not closed and faces a tight window before December 31. Trader sentiment reflects the rapid growth trajectory and institutional backing from SoftBank, Accel, and others, tempered by the short timeline to resolution and the company's 2028 IPO target.