2026 IPO pipeline set to eclipse Cerberus debut as SpaceX, OpenAI and Anthropic loom
Yahoo Finance reports that the anticipated public listings of SpaceX, OpenAI and Anthropic could dwarf recent market debuts, including chipmaker Cerberus and geothermal firm Fervo Energy, as investors weigh AI exposure against execution risks.
Chipmaker Cerberus debuted this week as the largest initial public offering of 2026 so far, pricing shares at $185 in an upsized $5.6 billion raise. The stock surged 68 per cent on its first day of trading before retreating 10 per cent, while Blackstone’s new digital infrastructure trust and geothermal firm Fervo Energy also secured significant capital. However, Yahoo Finance reports that these listings are likely just a precursor to a blockbuster year driven by the potential public debuts of SpaceX, OpenAI and Anthropic.
SpaceX is aiming for a June 12 listing with a target valuation of $1.75 trillion, according to a Wall Street Journal report. The rocket company is reportedly seeking to raise $75 billion, though it has not yet confirmed the size of its offering or final valuation metrics. The timing places the aerospace giant squarely in the middle of the current market cycle, positioning it as a potential anchor for investor interest in the sector.
Anthropic is targeting an October debut, seeking to raise $30 billion at a $900 billion valuation, the Financial Times reported. The AI model maker has not yet filed paperwork with the Securities and Exchange Commission or set an official date. If successful, the listing would represent one of the largest valuations in the artificial intelligence space, competing directly with OpenAI for market attention.
OpenAI faces greater uncertainty regarding its timeline, with a potential fourth-quarter entry complicated by missed revenue targets and ongoing legal disputes with Elon Musk. The company recently raised $122 billion at an $852 billion valuation, but Chief Financial Officer Sarah Friar has cautioned that the firm is not yet ready for public markets, according to The Information.
Other companies preparing for public listings include Inspire Brands and Discord. The Atlanta-based group, which owns Dunkin’ and Buffalo Wild Wings, confidentially filed last week to raise up to $2 billion at a valuation of roughly $20 billion. Discord filed with the SEC in early 2026, carrying a last known valuation of $15 billion from 2021, though it has not set a listing date.
Matthew Kennedy, a senior strategist with Renaissance Capital, told Yahoo Finance that the current class of major IPOs reflects early-stage companies taking big swings at large markets. US IPO proceeds have totalled $28.4 billion this year, a figure expected to rise significantly if the top three anticipated private companies debut as planned. Kennedy noted that the software sector generally does not yet qualify for these listings, with investors prioritising resilience against AI disruption.
