Perplexity maintains its plan for an IPO in 2028 as OpenAI and Anthropic submit their filings.
TL;DR: Perplexity AI is maintaining its IPO timeline for 2028, while OpenAI and Anthropic aim for listings in 2026. CEO Srinivas states their plans remain unchanged, emphasizing that the market can support multiple AI IPOs.
Perplexity AI is set to go public in 2028, with CEO Aravind Srinivas informed CNBC that this timeline has not altered due to OpenAI and Anthropic filing for their IPOs. “Regardless of the timeline for these two firms, we had already planned for 2028, and that remains unchanged,” Srinivas stated.
This stance positions Perplexity as a cautious outlier in a competitive landscape, where the three largest AI firms are all looking to go public in close succession.
The reasoning for delaying
OpenAI confidentially submitted its IPO filing on Monday, holding an $852 billion private valuation, while Anthropic filed last week at $965 billion. SpaceX is expected to list on Thursday at approximately $1.8 trillion.
Srinivas contended that the market can support several AI listings simultaneously. However, his choice to remain private suggests a strategic difference, as a 2028 listing allows Perplexity to observe how the first wave of IPOs performs, build a more substantial financial record, and enter the market when the initial excitement has been validated or adjusted.
Perplexity's current position
The company was last valued at about $20 billion following a funding round in September 2025 and has raised around $900 million in total, which is significantly less than what OpenAI ($122 billion in a single round) and Anthropic ($30 billion) have garnered.
Perplexity offers an AI-driven answer engine that competes with Google Search, ChatGPT, and Claude, with its enterprise tier priced at $40 per user monthly. Revenue figures for 2026 have not been publicly shared, but the enterprise AI market is rapidly expanding.
The risk of being a second mover
It is widely believed that being first to market during an IPO window attracts the most investor capital. Should OpenAI and Anthropic satisfy the demand for AI stocks in 2026, Perplexity may confront a smaller investor pool in 2028.
Conversely, the argument can be made that entering the market later with a proven business model and clear unit economics is more sustainable than going public early at a speculative valuation. Bending Spoons, which also filed for an IPO this week, took years to establish a financial record before seeking a public listing.
Factors affecting the 2028 timeline
Perplexity’s IPO strategy hinges on two key assumptions: first, that the AI search market will be substantial enough by 2028 to sustain a standalone public entity; second, that Perplexity will remain unique enough to secure a significant portion of that market.
Both assumptions are uncertain. Google is aggressively incorporating AI into its Search capabilities, and OpenAI’s ChatGPT has already become the preferred AI interface for hundreds of millions. Srinivas is banking on the idea that patience will outweigh haste, and by 2028, the market will reveal whether his strategy was sound.
Published June 9, 2026 - 9:05 am UTC
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