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Artificial intelligence startup Perplexity intends to proceed with an initial public offering (IPO) in 2028, irrespective of how investors react to the upcoming stock market debuts of competing AI firms. CEO Aravind Srinivas confirmed the company's listing plans remain unchanged in an interview with CNBC.

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Agnostic of these two companies, we were planning for something in 2028 so that still remains the case.

Srinivas's comments come as investors keenly observe a series of high-profile technology sector listings. Both Anthropic, the developer of the Claude AI model, and OpenAI have confidentially filed for IPOs. SpaceX is also expected to go public this month. Srinivas acknowledged that the performance of these listings could influence overall sentiment in the AI industry, though he expressed confidence in their potential.

"I certainly think there will be ripple effects if they don’t go well," he said, suggesting that SpaceX's IPO could serve as an early indicator for investor response to future listings from Anthropic and OpenAI. He argued that both companies justify their substantial valuations due to their leading positions in AI development, but stressed that maintaining these valuations hinges on continuous advancements in model capabilities.

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I certainly think there will be ripple effects if they don’t go well.

According to Srinivas, users are increasingly prioritizing access to the most effective AI model for a specific task rather than solely relying on the most advanced or costly systems. "If there is an open source model that gets the job done 90% of the time, I’d probably use that if it’s 10 to 20 times cheaper than the frontier model," Srinivas told CNBC, highlighting a potential shift in market demand towards accessibility and cost-effectiveness.

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If there is an open source model that gets the job done 90% of the time, I’d probably use that if it’s 10 to 20 times cheaper than the frontier model.