Perplexity CEO Aravind Srinivas has repeatedly confirmed a 2028 IPO target as the earliest feasible date, a stance that underpins the market's 65.5% implied probability on no listing before then. The company has maintained this timeline even as Anthropic and OpenAI advanced confidential filings, citing the need to build a sustainable, high-growth business with ample runway. Recent revenue momentum—annualized recurring revenue climbing to roughly $750 million by August 2026, fueled by the February launch of its Perplexity Computer agent platform—supports staying private longer amid stable private valuations near $20 billion. Traders appear to weigh the risk of timeline slippage or market volatility closer to 2028 more heavily than near-term acceleration.