SpaceX, Anthropic, and 4 more companies that could make an IPO splash in 2026

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By Emily Bary and William Gavin

A public listing could test the sky-high valuations that some tech firms have fetched

SpaceX and Anthropic, two of the most valuable private companies in the world, are reportedly considering launching initial public offerings as soon as next year.

After holding out for years, some of the buzziest private companies might finally take the next step in 2026.

SpaceX and Anthropic are candidates for initial public offerings in the year ahead, as they chase more funding and look to better insulate themselves against the competition. That presents an exciting opportunity for investors, and one that will test the lofty valuations these companies have fetched in the private markets.

Elon Musk has already hinted that SpaceX could make its public debut in the new year. The space-technology company reportedly just conducted a tender offer that valued it at $800 billion.

And while OpenAI recently said it didn't have IPO plans, some see its rival Anthropic as a more likely prospect. Anthropic, which makes the Claude chatbot, hasn't exactly had trouble raising funds as a private company, reportedly leading to a recent $350 billion valuation, according to CNBC. But with the relentless hunger for compute resources, the company might look to shore up funds in a new way.

"In order to stay competitive, they need to invest in their own infrastructure," as well as in engineering talent, Santosh Rao, the head of research at Manhattan Venture Partners, told MarketWatch.

He sees a fairly hospitable climate for IPOs, after 2025 brought some high-profile public debuts, like Circle Internet (CRCL) and Figma (FIG), but none with the name recognition of SpaceX and Anthropic.

Interest rates are lower, which could support deal activity in general, as could the general maturity of some private companies. Deals might be more loaded toward the second half of the year, he noted.

But experts from consultant PricewaterhouseCoopers, doing business as PwC, flagged recently that there's been only "selective investor appetite" for IPOs recently. Despite hot debuts for Circle, Figma and others, momentum has cooled significantly.

The Renaissance IPO ETF IPO has fallen 6.7% over the past three months through Tuesday, to bring its year-to-date gain down to 6.1%. In comparison, the S&P 500 index SPX has tacked on 3.1% the past three months and advanced 17.3% in 2025.

"This reflects a shift toward valuation realism, as investors prioritize sustainable growth and fundamentals in a higher-rate, post-zero interest rate environment," PwC said in a recent report.

Here are some private companies that could test investor appetites in

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