IPO
Completed — the 2026 class
5 debuts tracked (incl. late-2025 listings)| Company | IPO date | Ticker | Debut valuation | Day-one pop | Where it stands |
|---|---|---|---|---|---|
| Standard Nuclear TRISO nuclear-fuel maker; slashed the deal 58% before pricing and raised $150M. | Jul 16, 2026 | STDNNYSE | ~$2.4B | — | Public — priced after cutting its offering 58% |
| SpaceX The largest IPO in history — priced at $135/share (~$1.77T), raised ~$86B, closed day one near $2.1T. | Jun 12, 2026 | SPCXNasdaq | $1.77T | +19% | ~$1.77T market cap today |
| Cerebras Raised $5.55B at $185/share — the biggest US tech raise since Uber; opened +108% and closed day one near $95B. | May 14, 2026 | CBRSNasdaq | $56.4B | +68% | ~$48.5B market cap today |
| Klarna Priced at $40/share and raised $1.37B in its NYSE debut. | Sep 10, 2025'25 | KLARNYSE | ~$15B | +15% | Shares have roughly halved from the $40 offer price |
| Figma Priced at $33/share; tripled on day one to close near a $68B valuation. | Jul 31, 2025'25 | FIGNYSE | $18.8B | +250% | Fell 16% on Aug 5, 2026 despite a revenue beat, on soft guidance |
Filed & expected — the active pipeline
6 companies| Company | Status | Expected window | Key figure | Source |
|---|---|---|---|---|
| OpenAI Confidentially submitted a draft S-1 on June 8, 2026; Reuters reports it may wait until 2027 to list. | Filed | Likely 2027 | $852B last valuation | OpenAI / Reuters |
| Unitree Priced its Shanghai IPO Aug 6 at a ~$9B valuation; public subscription opens Aug 10 — listing imminent. | Filed | Aug 2026 · Shanghai STAR | ~$9B IPO pricing | CNBC |
| Anthropic Multiple reports of a confidential filing and investor meetings; Anthropic says timing is undecided. | Filed | Reported for late 2026 — unconfirmed | $965B last valuation | FT / Reuters reports |
| Databricks Hit $188B on a Coatue-led round in July 2026 — the most-watched name without a filing. | Expected | No S-1 yet | $188B private mark | Value Add Pulse |
| Plaid Reported to be lining up banks; weighing an offering at roughly $8B. | Expected | Weighing 2026–27 | $8B last valuation | Bloomberg |
| Cohere Hired the CFO who took Uber public; CEO says a debut is coming "soon." | Expected | No S-1 yet | $7B valuation · $240M ARR | CNBC |
Rumored — the watchlist
Chatter only — no filings on recordStripeRumored
$159B (tender offer, Feb 2026) last valuation
Profitable and says it's in no rush — employee liquidity keeps coming via tender offers instead.
Source: Company statements
MistralRumored
$13.7B last valuation
Europe's sovereign-AI champion; no filing, but persistent listing chatter.
Source: Value Add Pulse
VerkadaRumored
Banks reportedly lined up
Reported alongside Plaid to be quietly lining up banks for an offering.
Source: Value Add Pulse
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IPO$340M IPO
Orion180 Prices IPO Amid Three Same-Day S-1/A Filings
Three unrelated issuers -- an insurer, a laser-equipment maker, and an AI-crypto microcap -- had S-1/A amendments become public the same day, with only Orion180 disclosing an actual IPO price range.
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The Real IPO Base Rate: Small S-1s, Not Megadeals
IPO
The Real IPO Base Rate: Small S-1s, Not Megadeals
This week's SEC EDGAR docket shows roughly a dozen S-1 and S-1/A filings, nearly all from small or micro-cap issuers, alongside continued waiting for the next round of megacap technology listings.
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IPO
Nuclear Is the Next AI Trade Nobody's Pricing Right
IPO
Nuclear Is the Next AI Trade Nobody's Pricing Right
Holtec's priced IPO and SB Energy's hyperscaler-backed backlog both sell the same underlying thesis -- that data centers will pay a premium for firm power -- and public investors are about to test whether that premium is real.
DEEP DIVE
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Backlog vs. Balance Sheet: Two Very Different Energy IPOs
IPO
Backlog vs. Balance Sheet: Two Very Different Energy IPOs
Holtec's IPO is priced off physical assets it already owns and operates; SB Energy's is priced off a $439 billion contract backlog against $269 million of current revenue -- two structurally different bets inside the same AI-power IPO wave.
DEEP DIVE
IPO
Evolution Metals, Ocean Power Both Refile S-1s
IPO$100M facility
Evolution Metals, Ocean Power Both Refile S-1s
Evolution Metals & Technologies, a critical-materials rollup, and Ocean Power Technologies, a marine-energy developer, both filed new S-1 registrations tied to existing debt and warrant structures rather than fresh public listings.
DEEP DIVE
IPO
Three Companies Filed to Go Public Today. Two Nobody Noticed
IPO
Three Companies Filed to Go Public Today. Two Nobody Noticed
Holtec's priced IPO shared EDGAR's docket Tuesday with two smaller, unnoticed filers -- Evolution Metals & Technologies and Ocean Power Technologies -- a reminder the pipeline is wider than the handful of names anyone tracks.
DEEP DIVE
IPO Tracker — common questions
Which tech companies IPO'd in 2026?
3 major tech IPOs have been completed in 2026 so far: Standard Nuclear (NYSE: STDN, Jul 16, 2026), SpaceX (Nasdaq: SPCX, Jun 12, 2026), Cerebras (Nasdaq: CBRS, May 14, 2026). SpaceX's June debut was the largest IPO in history at a ~$1.77 trillion pricing valuation. They follow late-2025 debuts Klarna (KLAR) and Figma (FIG).
When is the OpenAI IPO?
OpenAI confidentially submitted a draft S-1 to the SEC on June 8, 2026, but has not set a listing date — Reuters reports it may wait until 2027. The company was last valued at $852B. It remains privately held while the IPO is pending.
What was the biggest IPO of 2026?
SpaceX — it priced on Jun 12, 2026 at $135 per share for a ~$1.77 trillion valuation, the largest initial public offering in history, raising roughly $86B. The biggest day-one pop of 2026 belongs to Cerebras, which closed its debut up 68%.
What tech IPOs are coming next?
The active pipeline includes OpenAI ($852B last valuation), Unitree (~$9B IPO pricing), Anthropic ($965B last valuation), Databricks ($188B private mark), Plaid ($8B last valuation), Cohere ($7B valuation · $240M ARR). On the watchlist: Stripe, Mistral, Verkada.