Perplexity AI's valuation currently stands near $20 billion following its Series E rounds in 2025, with secondary market indications and implied levels around $22 billion as of late September 2026. Strong revenue momentum, including an annualized run rate reaching approximately $750 million by August driven by product expansions such as the Perplexity Computer agent and usage-based pricing, underpins investor interest in the AI search sector. Discussions reported in August regarding a potential Nvidia-led round at valuations exceeding $30 billion highlight upside potential from strategic backing, though no closing has been confirmed. With the October 31 resolution deadline approaching, any near-term outcome hinges on whether fresh equity or secondary transactions materialize quickly amid broader AI capital flows and Treasury yield stability.