Perplexity's valuation sits near $20-22 billion following its September 2025 Series E-6 round at $20.39 billion post-money, with implied secondary pricing around $22 billion as of early October 2026. Trader sentiment centers on whether a rumored Nvidia-led equity round at $30 billion-plus closes before October 31, amid annualized revenue surging to roughly $750 million from under $250 million at the start of the year, driven by the February 2026 Computer agent launch and shift to usage-based subscriptions. The $30 billion talks, first reported in August, remain unconfirmed with no transaction closed, leaving resolution dependent on any near-term funding announcements or secondary trades that could lift the mark above key thresholds. Market-implied odds reflect the tight timeline and uncertainty around deal timing versus the company's strong revenue trajectory and enterprise traction.