Quick Take
- SpaceX filed its IPO papers on May , 2026 at a $1.75 trillion valuation.
- OpenAI eyes a Q4 listing near $1 trillion, with Anthropic targeting October.
- Combined raise across the three could top $150 billion, the largest in history.
The 2026 IPO Wave is shaping up as the biggest tech listing cycle in market history, with SpaceX, OpenAI, and Anthropic preparing back-to-back debuts worth more than $3 trillion in combined value.
SpaceX filed its S-1 (the SEC document required before going public) on May 20, 2026, kicking off the cycle. OpenAI plans a Q4 2026 listing. Anthropic targets an October debut. Together, these three alone could raise over $150 billion (Rs 12.6 lakh crore). That dwarfs every previous IPO season on record.
StartupFeed Insight
The real story is not the valuations. It is the speed. Three companies worth a combined $3 trillion plan to list within five months. That has never happened before. Watch the index funds. Once SpaceX joins major US indices, every passive ETF (Exchange Traded Fund) holder will own it by default. The same will follow for OpenAI and Anthropic. Indian fund managers running global feeder schemes will face fresh allocation choices by December 2026. Expect at least one of the three to price below its target range by year-end. By StartupFeed Desk.
Deal Breakdown
| Company | Target Valuation | Raise Size | Status | Expected Listing |
|---|---|---|---|---|
| SpaceX | $1.75 Tn (Rs 147 lakh Cr) | $75 Bn (Rs 6.3 lakh Cr) | S-1 filed May 20, 2026 | June 12, 2026 (Nasdaq: SPCX) |
| OpenAI | $1 Tn (Rs 84 lakh Cr) | Over $60 Bn (Rs 5 lakh Cr) | Confidential filing expected | Q4 2026 (likely September) |
| Anthropic | $900 Bn (Rs 75.6 lakh Cr) | $50 Bn (Rs 4.2 lakh Cr) | In banker talks | October 2026 |
| Databricks | $134 Bn (Rs 11.3 lakh Cr) | Not disclosed | IPO-ready, no S-1 yet | Late 2026 or 2027 |
| Canva | $42 Bn (Rs 3.5 lakh Cr) | Not disclosed | Plans confirmed | 2027 (delayed) |
SpaceX is now the only one with audited public financials on the table. Every other listing depends on what investors see in its first 30 days of trading.
Which companies are leading the 2026 IPO Wave?
SpaceX took the first move. It filed a confidential S-1 on April 1, then made the prospectus public on May 20, 2026. The Nasdaq ticker is SPCX. The $75 billion raise would top Saudi Aramco’s $29.4 billion record from 2019. Starlink, the satellite internet arm, brought in $11.4 billion of revenue in 2025. That covers most of the listing’s appeal.
OpenAI is in the second slot. The maker of ChatGPT crossed $25 billion in annualised revenue (recurring yearly sales pace) by early 2026. It has hired Cynthia Gaylor as corporate finance officer to lead investor relations. CFO Sarah Friar has flagged Q4 2026 as the most likely listing window. Some reports point to September. Microsoft and SoftBank are the largest existing shareholders.
Anthropic, the maker of Claude, plans to list third. The company has crossed $30 billion in annualised revenue on roughly 1,400% year-over-year growth. It raised $40 billion from SoftBank earlier this year, giving it a cash cushion. The target raise is $50 billion at a $900 billion valuation. Amazon and Google together hold over $70 billion in committed capital across equity and cloud deals.
Databricks and Canva sit in the second tier. Databricks crossed $5.4 billion in annualised revenue with positive free cash flow. CEO Ali Ghodsi has called the company IPO-ready but has not filed yet. Canva, the Australian design SaaS (Software as a Service) firm, has pushed its listing to 2027 to finish its artificial intelligence (AI) feature rollout.
About the 2026 IPO Wave
The 2026 IPO Wave refers to a cluster of mega-cap tech listings expected between June and December 2026. Founded mostly in the last 25 years, the leaders include SpaceX (2002, Elon Musk), OpenAI (2015, Sam Altman, San Francisco), and Anthropic (2021, Dario and Daniela Amodei, San Francisco). Lead bankers across the cycle include Goldman Sachs, Morgan Stanley, and JPMorgan. Combined private valuations top $3 trillion.
Why does the 2026 IPO Wave matter for Indian investors?
Indian retail investors can buy these shares once trading begins, through Liberalised Remittance Scheme (LRS) routes. Platforms like Vested, INDmoney, and Groww offer access to US-listed stocks. The annual LRS cap is $250,000 per person. Indian feeder funds run by Edelweiss, Mirae, and Motilal Oswal will likely add SpaceX and OpenAI to their global equity baskets within weeks of listing.
“Anthropic’s pitch is differentiated: superior revenue growth rate compared to OpenAI and a valuation discount on a forward revenue multiple.” Industry analysis cited by techjournal.org, May 22, 2026.
For Indian AI startups like Sarvam AI and Krutrim, these listings set the public-market benchmark. Their next private rounds will be priced against OpenAI’s and Anthropic’s forward multiples.
What’s Next
SpaceX prices its IPO around June 11. Trading starts June 12 on Nasdaq under SPCX. OpenAI’s confidential S-1 is expected within weeks. Anthropic’s filing will follow once both peers have priced. Watch the first-day pop on SpaceX. It will set the tone for the rest of the cycle. Will the public market absorb $150 billion of fresh AI and space supply?
Frequently Asked Questions
Which companies are part of the 2026 IPO Wave?
The 2026 IPO Wave includes SpaceX, OpenAI, Anthropic, Databricks, and Canva as the most-watched names. SpaceX has already filed its S-1 publicly on May 20, 2026. OpenAI and Anthropic are preparing filings for Q4 2026. Databricks remains in waiting mode. Canva has postponed to 2027.
How can Indian investors buy SpaceX, OpenAI, or Anthropic shares?
Indian residents can buy these US-listed shares once trading begins, using the Reserve Bank of India’s LRS route. Platforms like Vested, INDmoney, Groww, and INDStocks offer access to Nasdaq and NYSE-listed stocks. The LRS cap is $250,000 per person per financial year. IPO-day allocations are usually limited to institutional investors first.
Why is the 2026 IPO Wave the largest in history?
The combined targeted raise across SpaceX, OpenAI, and Anthropic alone could exceed $150 billion (Rs 12.6 lakh crore). That figure surpasses the total proceeds of all 200-plus US IPOs in 2025. Three companies worth over $3 trillion in combined value listing within five months has never happened in market history.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. The analysis above is based on publicly available information and should not be the sole basis for any investment decision. Please consult a SEBI-registered financial advisor before making investment decisions.
