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Perplexity AI, Inc.
ai · last updated 2026-05-26
Expected pricing window
— (no public filing yet)
Only private placements on file. We can't estimate a window until a DRS or S-1 lands.
Event metadata
Core
| Issuer | Perplexity AI, Inc. |
|---|---|
| Ticker | — (pre-IPO) |
| CIK | — (no SEC filer yet) |
| Exchange | — (pending) |
| Sector | ai |
| Tier | A |
| Status | FUNDED PRIVATE Private placements (Form D) only — no public IPO filing. |
| Est. raise | — (not disclosed) |
| Last private val. | $18.00B |
Valuation
$18.00B — watchlist estimate; no per-source citation on file yet.
Filing timeline
Chronology
- (no filings)
Secondary-market signals · 4 SPV pass-throughs
Form-D filings by feeder LLCs / SPVs holding shares in this entity. Each one is a private secondary-market trade — not an IPO filing, but a liquidity signal on the cap table.
| 2026-05-08 | D | SPV CIK 0002133943 | 0002133943-26-000001 |
| 2026-05-06 | D | SPV CIK 0002126999 | 0002126999-26-000001 |
| 2026-05-04 | D | SPV CIK 0002132568 | 0002132568-26-000001 |
| 2026-03-17 | D | SPV CIK 0002103730 | 0002103730-26-000001 |
What do these filings & statuses mean?
Status taxonomy
- RUMOR
- News mentions an upcoming IPO but no SEC filing exists yet.
- DRS
- Confidential draft on file at the SEC. Time-to-public-S-1 historically 60–180 days.
- S-1 FILED
- Public S-1 on file. Pricing historically 4–10 weeks later (Arm, Reddit, CAVA, Klaviyo, Instacart).
- ROADSHOW
- Price range disclosed in an S-1/A. Bankers are actively pitching investors; pricing 1–3 weeks out.
- PRICED
- Final 424B filed; price set. First trade typically T+1 to T+5.
- TRADING
- Already listed and trading. We keep these on the board as comps for the active IPOs.
- FUNDED PRIVATE
- Mega-private (OpenAI, Anthropic, Stripe). Cap raised via private rounds — no public IPO filing. SPV pass-throughs track secondary liquidity.
- DEBT / NOTE
- Bond or note offering — 424B without a prior S-1. Filtered out of the active board.
- WITHDRAWN
- Registration pulled. Either delayed or cancelled outright.
SEC filing types
- S-1
- Initial public registration statement. Company is going public; SEC review begins.
- S-1/A
- Amendment to S-1. Often the moment a price range is added — pricing is then weeks away.
- F-1
- S-1 equivalent for foreign issuers (Arm Holdings filed an F-1).
- DRS
- Draft Registration Statement — confidential S-1. Filed quietly under JOBS Act; converts to public S-1 when the company is ready.
- 424B*
- Pricing prospectus. Filed AFTER the SEC declares the S-1 effective and the company prices the IPO. Trading begins T+1.
- Form D
- Notice of private securities sale (Reg D 506(b)/(c)). Companies use this for late-stage primary rounds AND for SPV pass-throughs in the secondary market. NOT an IPO filing.
- RW / AW
- Withdrawal of registration. The IPO has been pulled (market conditions, regulatory, M&A, etc.).