A trio of tech titans — SpaceX, OpenAI, and Anthropic — are gearing up for what could be the biggest IPO wave in history. Their combined valuations could top $3 trillion, reshaping the tech investment landscape for years to come.
SpaceX has already filed its IPO prospectus, targeting a valuation between $1.75 trillion and $2.3 trillion, with a listing as early as June 12, 2026. The filing reveals billions in overall losses, but its Starlink business pulled in $11.4 billion in revenue and $4.4 billion in operating profit in 2025. There's also a super-voting structure to keep Elon Musk firmly in control, and a massive stock option package tied to building a Mars colony for 1 million people and space data centers. Word is, Goldman Sachs CEO David Solomon slid into Musk's DMs to pitch for the lead underwriter role.
In AI land, OpenAI is working with Goldman Sachs and Morgan Stanley to file its IPO confidentially as early as this Friday, aiming for a listing by the end of 2026 (maybe as soon as September). The company has already raised about $180 billion in private markets, and is targeting a valuation between $850 billion and $1.1 trillion. The news sent shares of SoftBank — which owns roughly 13% of OpenAI — up 20%, netting the Japanese conglomerate about $45 billion in unrealized gains.
Anthropic isn't far behind. The AI startup has formally hired lawyers to push forward with its own IPO, planning to file for a Nasdaq listing in the second half of 2026 at a target valuation of up to $900 billion. Thanks to rapid commercialization, Anthropic posted $4.8 billion in Q1 revenue and expects $10.9 billion in Q2, which could mark its first profitable quarter ever.