OpenAI, SpaceX, and Anthropic, three major "super IPOs," may come together this year, with single fundraising amounts expected to exceed the total of 200 IPOs in 2025.

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Wall Street is holding its breath for a capital feast that could go down in history.

According to sources cited by the Financial Times, the three highest-valued unicorns in the US tech sector—SpaceX, OpenAI, and Anthropic—are busily preparing for IPOs, with launches as early as this year.

Remarkably, if any one of these three giants goes public this year, the size of a single transaction could surpass the total fundraising of about 200 IPOs expected in the US in 2025.

For Wall Street investment banks, law firms, and venture capital institutions who have endured a long "IPO drought," the listings of these three companies could mean billions in underwriting and consulting revenues, potentially bringing the most lucrative "harvest year" in their histories.

Lux Capital co-founder Peter Hébert stated:

"In my memory, I have never seen such a spectacle—three private companies about to go public, and once listed, they will instantly join the ranks of the world's most valuable public companies...

All of these companies listing in 2026 is unlikely, but not impossible; it would mean venture capitalists, bankers, and deal lawyers will reap massive fortunes."

The Year of Super-IPOs

Although their specific IPO valuation targets have yet to be finalized, recent primary market transactions reveal the staggering size of these "giant ships."

SpaceX is advancing a secondary stock sale, valuing the company at $800 billion. Executives have recently told investors that, barring major market shocks, the company plans to go public within the next 12 months. The market widely expects that SpaceX alone could break the $29 billion fundraising record set by Saudi Aramco in 2019, setting a new benchmark for the world's largest IPO.

The two AI powerhouses are similarly ambitious.

As the parent company of ChatGPT, OpenAI is currently valued at $500 billion and is negotiating a new round of financing at target valuations of $750 billion or even higher. The Financial Times reports that OpenAI has been in talks about IPO matters with several prominent law firms, including Cooley. Another person close to ChatGPT said the company has yet to select a legal advisor.

Meanwhile, Anthropic has officially hired renowned West Coast law firm Wilson Sonsini to begin IPO preparations, and is negotiating a new financing round with a target valuation of over $300 billion.

Notably, over the past year, both Anthropic and OpenAI have paved the way for their IPOs by hiring executives with public company experience and reorganizing their corporate governance structures.

Additionally, data giant Databricks, valued at $134 billion, and design platform Canva, valued at $42 billion, are also on this year's potential IPO list.

If successful, early investors will reap huge returns.

Peter Thiel's Founders Fund, which invested in SpaceX in 2008, now holds shares worth tens of billions of dollars, and Alphabet also owns shares in the company worth several billion; Khosla Ventures, one of OpenAI's earliest VC backers, acquired a 5% stake in the company in 2019.

Macro-Economic "Drivers"

The IPO market in 2026 is trying to recover from last year's gloom.

Looking back at last year, despite listings from tech firms like Figma and Klarna, Trump's comprehensive tariff policy in April and a government shutdown in October dealt a double blow, causing two waves of large tech IPOs to stall. Data from EY shows that total US IPO fundraising in the first nine months of 2025 barely surpassed $30 billion.

This means that if any one of the three giants goes public this year, a single transaction could eclipse last year's entire market data.

Although Oracle and Broadcom have recently suffered sell-offs due to concerns over an "AI bubble," bringing new uncertainties to the market, mainstream institutional opinion holds that these three giants have the ability to withstand market cycles.

Ryan Biggs, Co-Head of Venture at Franklin Templeton, stated:

"When you’re looking at generational companies that define an era, their decision to go public is no longer a passive response to the macro environment. These enterprises are so powerful that they themselves are the drivers of macro economics."

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