The three most valuable private technology companies in the United States are preparing to go public in 2026. SpaceX, OpenAI, and Anthropic could collectively raise tens of billions of dollars. This would mark the biggest IPO wave in Wall Street history.
Valuations That Dwarf the Competition
SpaceX leads the pack with an $800 billion valuation. The company confirmed IPO plans in a December memo to shareholders. CFO Bret Johnsen outlined pricing at $421 per share. This nearly doubles the $212 price set in July.
OpenAI currently sits at $500 billion. The ChatGPT maker is in talks to raise fresh capital that could push its valuation past $750 billion. The company has engaged law firm Cooley for IPO preparations.
Anthropic targets a valuation above $300 billion. The Claude chatbot creator has hired Wilson Sonsini to handle its public offering. Microsoft and Nvidia recently committed $15 billion to the AI startup.
SpaceX Eyes Record-Breaking Offering
Elon Musk’s rocket company could surpass Saudi Aramco’s 2019 record of $29 billion raised. The IPO proceeds would fund ambitious projects. These include an “insane flight rate” for Starship, AI data centers in space, and a lunar base.
SpaceX dominates the space industry with its Falcon 9 rocket. Starlink serves millions of customers with satellite internet. The company plans to list within the next 12 months barring market turmoil.
Early Investors Stand to Win Big
Founders Fund invested $20 million in SpaceX back in 2008. That stake is now worth tens of billions. Alphabet holds a multibillion-dollar position. Khosla Ventures secured a 5% stake in OpenAI in 2019.
Peter Hébert, founder of Lux Capital, sees unprecedented opportunity. “I can’t recall a crop like this,” he said. “Three private companies which would be among the largest public market caps in the world.”
AI Race Drives IPO Timing
The rivalry between ChatGPT and Claude continues to intensify. Both OpenAI and Anthropic spent 2025 preparing for public markets. They hired executives from public companies. They restructured their boards. They attracted institutional investors accustomed to public equities.
OpenAI projects $200 billion in annual revenue by 2030. The company’s run rate has tripled annually. It currently sits at $20 billion. Anthropic expects to nearly triple its revenue to $26 billion next year.
Market Conditions Create Uncertainty
Recent volatility in AI stocks has raised concerns. Oracle and Broadcom saw sharp drops over valuation worries. Political and economic disruptions could delay plans.
However, favorable conditions persist. Interest rates are stabilizing. Trade tensions have eased. The SEC has streamlined listing processes. Bankers describe behind-the-scenes preparations as “overwhelming.”
Other Tech Giants Watching Closely
Databricks, valued at $134 billion, is also considering a public offering. Design platform Canva, worth $42 billion, weighs its options. These IPOs would add to the growing list of best AI stocks available to investors. The 2026 IPO pipeline could reshape technology investing for years to come.
If all three major offerings proceed, 2026 will become the most significant year for tech IPOs ever recorded. Investors worldwide are watching closely.
