Perplexity CEO Aravind Srinivas reaffirmed in June 2026 that the AI search company plans to pursue an IPO no earlier than 2028, regardless of how OpenAI and Anthropic listings perform, reinforcing trader consensus around the "no IPO before 2028" outcome. The firm’s last priced round valued it at roughly $20 billion in late 2025, with implied marks near $22 billion and annualized revenue reaching $500–750 million by mid-2026 amid product expansions such as the Computer agent and enterprise features. Discussions of a potential Nvidia-led round above $30 billion have surfaced but remain unconfirmed, while no S-1 filing or accelerated timeline has emerged. These factors, combined with Perplexity’s deliberate pace versus peers, anchor the current market-implied odds.