A multi-chamber inflatable mattress includes a main air chamber, upper and lower peripheral air chambers, and an upper air chamber. The main air chamber includes internal tensioning structures which cooperate with a bottom mattress panel and a lower intermediate panel to provide a generally box-shaped, mattress-sized inflatable structure upon pressurization. A second, upper intermediate panel cooperates with a top mattress panel to define an upper air chamber which defines the sleeping surface. The main air chamber receives pressurized fluid directly from a valve, while the lower and upper peripheral air chambers are in direct fluid communication with the main air chamber but not the valve. The upper air chamber is in direct fluid communication with the upper peripheral air chamber, but not the main chamber or valve.