IPOs 2026: Will Anthropic, SpaceX and OpenAI rock the stock market?

After several mixed years, the IPO market has cleared up again in 2025. According to EY, 1,259 companies went public in the previous year (+2%), with issuance volume rising significantly by 32 percent to $163.3 billion. 2026 could be even better, because there’s a whole slew of companies in the tech sector alone that are targeting IPOs or at least have such plans attributed to them. With OpenAI, Anthropic, and SpaceX, three companies are among those that could even crack the top 20 of the world’s most valuable companies with valuations of $500 billion and more.

We provide an overview of the expected IPOs in 2026:

MiniMax

Chinese AI startup MiniMax is planning its IPO in Hong Kong as early as January 9, 2026. According to reports, the offering price should be at the upper end of the price range, which would allow the company to raise around $538 million. This transaction would value MiniMax at approximately $6.5 billion and reflects sustained strong interest in generative AI across the Asian region.

Z.ai (Zhipu AI)

The company known as Z.ai (internationally) or Zhipu AI is also targeting the Hong Kong stock exchange in January 2026. The IPO is expected to raise around $560 million, which would give the company a valuation of approximately $6.6 billion. Zhipu AI is considered one of the leading Chinese developers of large language models (LLMs) and competes directly with MiniMax for investor capital.

Anthropic

Anthropic, maker of the popular Claude AI model, has not yet filed an official IPO application but is being traded as one of the hottest candidates for a stock market listing in the near future. Following a funding round in November 2025 by Microsoft and Nvidia, the AI developer (known for „Claude“) is reportedly now valued at an enormous $350 billion. An IPO could happen in 2026, provided market conditions remain stable. The timing window would be favorable because you currently cannot directly invest in an AI model company.

OpenAI

OpenAI continues to be traded as arguably the most gigantic IPO of the coming years, with current reports suggesting a possible IPO for late 2026. The valuation has exceeded the $500 billion mark following recent funding rounds and restructuring (toward a for-profit business model), with speculation for an IPO even pointing toward $1 trillion.

SpaceX

Elon Musk’s space company SpaceX is reportedly planning an IPO for 2026, with the satellite internet business Starlink serving as a key driver. Valuation expectations are astronomical, reaching speculative IPO targets of $1.5 trillion (more on that here). Such a move would not only make SpaceX the most valuable publicly traded space company in history but also catapult it into the top 10 most valuable companies in the world, possibly even ahead of Tesla.

Databricks

Data and AI specialist Databricks completed a funding round (Series L!) a few weeks ago that valued the company at $134 billion. So far, the company has chosen the path of numerous private funding rounds, but now an IPO is expected for 2026 and is considered one of the most anticipated tech IPOs worldwide. The company is waiting for optimal market conditions, as it has no immediate cash needs thanks to the recent capital injection.

Bitpanda

Austrian fintech unicorn Bitpanda is reportedly considering an IPO. The valuation is likely to be well above the $4 billion mark achieved in the last major funding round (some reports mention values around $4.5 billion). Frankfurt is being discussed as a possible stock exchange venue, while the company continues to expand its dominance in the European crypto market.

Raisin

Berlin-based interest platform Raisin (better known as WeltSparen) is planning an IPO targeted for 2026. After profitable years and strong growth, the targeted valuation is over €2 billion. The company has already prepared its structures for a public market listing and is using the period of high interest rates to further solidify its market position.

Helsing

German defense AI startup Helsing completed a Series D funding round of around €600 million in June 2025, catapulting the valuation to an impressive €12 billion. Although no concrete IPO date has been set, the company is considered one of the most important European tech IPO candidates, driven by massive demand for modern defense technologies.

Quantum Systems

Munich-based drone manufacturer Quantum Systems increased its valuation to over €3 billion at the end of 2025 after successfully completing a Series C expansion. The company benefits strongly from government contracts and the geopolitical situation; several acquisitions were made recently. An IPO is seen as a logical next step in the medium term to finance further international expansion.

Celonis

Munich-based process mining decacorn Celonis has long been traded as an IPO candidate, with a listing now expected for 2026. The company’s valuation is in the range of $11 to $13 billion. Celonis is currently focused on profitability and expanding its platform to take the step to the stock market (likely in the US) in a favorable market window.

GetYourGuide

Travel booking platform GetYourGuide is now profitable and generates revenues of over €1 billion but has not confirmed immediate IPO plans for 2026. The last known valuation was around $2 billion but is likely significantly higher given recent business figures. The company is currently primarily using secondary sales to provide liquidity to employees and early investors but is keeping the IPO option open.

Mobile.de

For German online vehicle marketplace Mobile.de, the owner (a consortium led by Permira) is reportedly planning an IPO in 2026. A possible valuation of around €10 billion is being discussed. This step would be part of a strategy to bring parts of the formerly publicly listed Adevinta Group back to the capital market separately, preferably at the Frankfurt Stock Exchange.

SumUp

Payment service provider SumUp is reportedly currently reviewing options for an IPO that could value the company at $10 to $15 billion. London or New York are possible trading venues. SumUp last achieved a valuation of €8 billion in 2022 and continues to grow strongly in the small business services sector.

KNDS

German-French defense contractor KNDS (KMW + Nexter) is planning a dual listing on the Paris and Frankfurt stock exchanges for 2026. The targeted valuation is approximately €20 billion. Given full order books and rising defense budgets in Europe, this IPO is considered one of the largest and safest in the industrial sector for the coming year.

Kraken

US crypto exchange Kraken is actively planning its IPO for the first quarter of 2026. Most recently, a valuation of $20 billion was in the mix, with very bullish crypto market reports also circulating significantly higher, speculative figures. The company has professionalized its structures to meet the regulatory requirements of a public listing. It also closed a major deal with Deutsche Börse.

ConsenSys

MetaMask is the crypto wallet of ConsenSys, which is reportedly also preparing for an IPO. ConsenSys’s valuation in the last major round was around $7 billion. An IPO would likely take place on the Nasdaq and is considered an indicator of institutional interest in Web3 infrastructure, with the exact timeline depending on the crypto market cycle.

Revolut

British neobank Revolut is preparing for an IPO that could value the company at up to $75 billion – a massive jump from the $45 billion valuation from secondary stock sales in 2025. The company is targeting a listing in London or New York and is Europe’s most valuable fintech.

Monzo

British challenger bank Monzo is heading toward an IPO in the first half of 2026. The company is targeting a valuation of $7.5 to $9 billion, which represents a significant increase from the last private valuation of £4.5 billion. Monzo has since proven itself profitable and reportedly favors a London listing.

Starling Bank

British Starling Bank is considered another hot candidate for an IPO in London, with a valuation of around £4 billion being targeted. The company is currently in talks about secondary stock sales to solidify the valuation and clean up the shareholder structure. Starling has been profitable for some time and could soon take the step to the market.

Visma

Norwegian software giant Visma, which acquired Finmatics in Austria, is reportedly planning an IPO for 2026 that could value the company at around $22 billion (approximately €20 billion). Visma is one of the largest providers of enterprise software in Europe and is majority-owned by private equity investors like Hg, who are now seeking an exit via the stock market.

Stripe

Payment service provider Stripe was valued at more than $90 billion in early 2025 as part of a share buyback. Although Stripe is considered „IPO-ready“, the company has stated it is in no rush to go public since it is profitable and provides liquidity to employees through secondary markets. An IPO could still be a topic in 2026 but is not guaranteed.

Bolt

Estonian mobility provider Bolt (ride-hailing and scooter) is targeting an IPO for 2026. The valuation is estimated at around €6.3 billion. Bolt has established itself as a tough competitor to Uber in Europe and is working to further improve its profitability ahead of the IPO to present investors with a sustainable business model.

Canva

Australian design platform Canva is expected to go public in 2026 after its valuation on the secondary market was around $42 billion in August 2025. The company is profitable, generated significantly more than $3 billion in revenue in 2025, and continues to grow strongly, particularly through new AI features. A US listing is considered the most likely scenario for the tech darling.

Dataiku

AI and data startup Dataiku is reportedly planning an IPO in the first half of 2026. The company, which was last valued at $3.7 billion, could target a valuation of $6 to $9 billion in the IPO. Banks like Morgan Stanley have already been mandated to prepare the process.

Discord

The chat and community platform that grew big in the gaming space is said to have already initiated its IPO for 2026, including with major banks Goldman Sachs and JPMorgan Chase. The company has been considered an IPO candidate for several years and could receive a valuation of $15 billion.