Mega IPOs loom as Wall Street anticipates breakout year for listings

BENGALURU: Pent-up demand for new listings and a strong pipeline of high-profile private companies such as Elon Musk’s SpaceX is setting the stage for what could be a breakout year for the US initial public offering market.

Goldman Sachs predicted last week that proceeds from US IPOs could vault to a record US$160 billion (RM631 billion) in 2026, should the marquee names go public this year.

Market participants are also optimistic on a bigger year for billion-dollar-plus IPOs, underpinned by a strong pipeline of late-stage private companies.

However, risks still linger, with the recent sell-off in software stocks threatening to temper issuance activity from the sector, which accounts for a sizable share of the IPO backlog.

Here is an overview of some of the mega IPOs expected in 2026:

SPACEXElon Musk’s SpaceX is planning a blockbuster IPO that could value it at more than US$1.5 trillion and could take place as soon as June, Reuters has reported.

SpaceX last week announced the acquisition of artificial-intelligence startup xAI in a record-setting deal, unifying Musk’s AI and space ambitions.

If SpaceX raises more than US$25.6 billion, it would be the world’s largest IPO, eclipsing oil major Saudi Aramco’s listing in 2019.

OPENAIOpenAI was laying the groundwork for an IPO that could value it at up to US$1 trillion, with the ChatGPT maker considering filing with securities regulators as soon as the second half of 2026, Reuters reported last year.

OpenAI chief financial officer had said at the time an IPO was not in the company’s near-term plans.

ANTHROPICClaude-maker Anthropic hired law firm Wilson Sonsini to prepare for an IPO that could take place as early as 2026, the Financial Times reported in December.

An Anthropic spokesman told Reuters at the time the company had not decided when or whether it will go public.