The year 2026 is shaping up to be a landmark period for global capital markets, as the three most valuable private technology companies in the United States are actively preparing for initial public offerings. According to sources with direct knowledge, Elon Musk's SpaceX, OpenAI, and Anthropic are all working towards listings that could happen as soon as this year, raising hopes among their backers for an unprecedented financial windfall.
The Unprecedented IPO Trio
This potential trio of public market debuts is extraordinary in scale. Industry experts note that the combined value and proceeds from just these three deals would likely surpass the total haul from approximately 200 U.S. IPOs in 2025. Peter Hébert, co-founder of Lux Capital, remarked on the rarity of such a crop of companies, stating they would rank among the world's largest public market capitalizations upon listing.
While the likelihood of all three launching in 2026 is considered possible but not certain, the outcome would represent what Hébert called "an epic bonanza for VCs, bankers and deal attorneys." The preparations are already in motion, with each company taking concrete steps toward the public markets.
Company-Specific Plans and Valuations
Each tech giant is on its own trajectory with staggering valuations. SpaceX executives have reportedly informed investors that an IPO is planned within the next 12 months, barring a major market shock. The rocket company is concurrently working on a secondary stock sale that would value it at a colossal US$800 billion.
OpenAI, the creator of ChatGPT, is currently valued at US$500 billion but is engaged in early discussions for a new funding round that could see its valuation soar to US$750 billion or more. The company has been in talks with leading law firms like Cooley for IPO preparations, though it has not yet finalized its legal advisers.
Anthropic has taken a definitive step by appointing the West Coast law firm Wilson Sonsini to begin its listing preparations. The AI lab is also in discussions for new funding, with investors anticipating a valuation exceeding US$300 billion.
Market Context and Potential Impact
These planned listings come after a year where hopes for a major tech IPO revival in 2025 were dampened by geopolitical and economic events, including sweeping U.S. tariffs and a government shutdown. The total U.S. IPO proceeds for the first nine months of 2025 reached over US$30 billion, largely driven by tech groups like Figma and Klarna.
The entry of even one of the three titans—SpaceX, OpenAI, or Anthropic—would dwarf that sum. SpaceX alone is widely anticipated to potentially surpass Saudi Aramco's record US$29 billion 2019 listing, claiming the title for the largest public offering in history. The influx of tens of billions of dollars in proceeds would represent a potential gold mine for the entire ecosystem of investment banks, law firms, and early-stage investors.
However, the path to these historic IPOs is not without risk. The plans remain susceptible to unexpected political or economic upheaval. Furthermore, transitioning from private to public ownership will subject these influential but previously guarded companies to an entirely new level of scrutiny from regulators and public market shareholders alike. For investors across Canada and globally, 2026 may offer a once-in-a-generation opportunity to participate in the public debut of companies defining the future of space and artificial intelligence.
