According to the Financial Times (and pretty much everyone else), 2026 has the potential to be the biggest IPO year in history. SpaceX, OpenAI, and Anthropic all could go public this year; the proceeds from those three combined “would outstrip the total haul from about 200 US IPOs in 2025.”
Were any one of the three companies to successfully complete a public offering this year, they’d not only make thousands of lawyers, investors, bankers, and employees very rich, they’d also be setting a record: Each company is already privately valued at well above the benchmark for the largest public offering in history, which was Alibaba’s 2014 debut at $170 billion.
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