The technology sector is abuzz with the potential for several high-profile initial public offerings (IPOs) in 2026, with companies like OpenAI, Anthropic, SpaceX and Stripe rumoured to be among the contenders. These so-called “hectocorns” – tech startups valued at over $100 billion – could reshape the landscape of the industry and the broader market.
OpenAI, the San Francisco-based company synonymous with AI, is tipped to be the biggest test for the entire AI economy. With a valuation that has skyrocketed from $29 billion in 2023 to $500 billion last year, the company could be worth as much as $1 trillion if it goes public, according to Reuters. Underpinning this staggering valuation is the hope that the transformative impact of AI adoption will more than justify the multitrillion-dollar investments in the infrastructure needed to support it.
Anthropic, another San Francisco-based AI startup, is also yet to turn a profit but has recently signed a term sheet for a $10 billion funding round, valuing the company at $350 billion. The potential ramifications of an Anthropic IPO could extend beyond the AI race, as many of its employees are aligned with the effective altruism movement, which could see a surge of investment in causes aligned with this philosophy.
SpaceX, Elon Musk’s aerospace company, is reportedly preparing to go public, with a valuation that reached $800 billion in December. However, the company’s chief financial officer, Bret Johnsen, has cautioned that the timing and valuation of the IPO remain highly uncertain. Analysts suggest that the nexus between tech, aerospace and defence may appeal to investors, but Musk’s reputation could complicate the outcome.
Other companies in the pipeline for potential IPOs include the cryptocurrency exchange Kraken, data analytics firm Databricks, design software company Canva, and the digital bank Monzo. The success or failure of these flotations could shape concerns about the AI race and whether the resulting market mania is a bubble.
As the technology sector continues to evolve, the rise of the “hectocorns” promises to be a defining feature of 2026, with investors eagerly awaiting the outcomes of these highly anticipated public offerings.
