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
Anthropic and OpenAI's Parallel Paths to Going Public
Anthropic and OpenAI both have draft S-1s in motion, but their public postures differ sharply -- Anthropic racing toward a size comparable to SpaceX, OpenAI's CFO explicitly declining to treat the process as a race.
DEEP DIVE
IPO
Anthropic's IPO Filing Will Flag AI Backlash as Risk
IPO
Anthropic's IPO Filing Will Flag AI Backlash as Risk
Anthropic's forthcoming IPO filing will include AI backlash -- public and regulatory skepticism toward the industry -- as a formal risk factor, sources tell CNBC, an unusually candid disclosure for a company chasing SpaceX's record size.
FOLLOW-UP
IPO
Anthropic Eyes IPO Big Enough to Beat SpaceX
IPO
Anthropic Eyes IPO Big Enough to Beat SpaceX
Anthropic is preparing to file publicly for an IPO it expects to match or exceed SpaceX's record-setting size, with some investors modeling a valuation above $2 trillion.
DEEP DIVE
IPO
2026 US IPO Volume Nears the 2021 Record
IPO
2026 US IPO Volume Nears the 2021 Record
US companies have raised roughly $160.6 billion in IPO proceeds through August 19, putting 2026 within reach of 2021's full-year record of $175 billion even before Anthropic's own listing is counted.
DEEP DIVE
IPO
Three Biotechs File S-1s in the Same Week
IPO
Three Biotechs File S-1s in the Same Week
Tempest Therapeutics, Aptevo Therapeutics and Alzamend Neuro all filed S-1 registration statements this week, a reminder that the biotech IPO pipeline keeps moving even in a news cycle dominated by trillion-dollar AI listings.
DEEP DIVE
IPO
Three SPACs File This Week Hunting for Targets
IPO
Three SPACs File This Week Hunting for Targets
Dune Acquisition Corp III, Albatross Acquisition Corp and Three Lions Acquisition Corp all filed amended S-1 registrations this week, adding to a modest but real pipeline of blank-check vehicles still working through the SEC process.
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.