January 20, 2026
Upcoming IPOs 2026: 10 Companies to Watch
From AI giants to fintech disruptors, the list of upcoming IPOs for 2026 is shaping up to be one of the most exciting in years. After a period of subdued activity, investor confidence is returning and a wave of high-profile companies are preparing to make the leap from private to public markets. In this guide,…
From AI giants to fintech disruptors, the list of upcoming IPOs for 2026 is shaping up to be one of the most exciting in years. After a period of subdued activity, investor confidence is returning and a wave of high-profile companies are preparing to make the leap from private to public markets.
In this guide, we break down 10 of the most anticipated upcoming IPOs for 2026, ranked by valuation, including their latest valuations, business models, target exchanges and likelihood of listing this year.
📌 This list is based on publicly available reports and company filings as at January 2026. IPO timelines are subject to change based on market conditions and company decisions.
This article reflects information accurate as of January 2026.
Is 2026 the Year of IPOs?
Signs point to yes. After a prolonged drought in tech listings, market conditions are aligning for a resurgence of upcoming IPOs in 2026. Interest rate stabilisation, renewed investor appetite for growth stocks and a backlog of mature private companies have created what many analysts describe as a perfect storm for IPO activity.
Several factors are driving the momentum for upcoming IPOs in 2026. Circle's successful debut has renewed enthusiasm for fintech listings. AI companies are commanding premium valuations as enterprise adoption accelerates. And many unicorns that delayed their IPO during 2022-2024's volatility are now running up against shareholder limits and investor pressure to provide liquidity.
That said, geopolitical tensions and regulatory uncertainty could still throw a spanner in the works for some upcoming IPOs. Companies will need to demonstrate not just growth, but a clear path to profitability to justify their private-market valuations in the public arena.
10 Upcoming IPOs for 2026 (by Valuation)
1. SpaceX
| ~US$800 billion (targeting US$1 trillion+) | NYSE or NASDAQ (Starlink spin-off possible) | Moderate |
SpaceX is Elon Musk's aerospace company that has revolutionised the space industry with reusable rockets. The company operates two main businesses: launch services for NASA and commercial clients, and Starlink, its satellite internet service with approximately 8 million subscribers globally.
Reports suggest SpaceX is preparing for a potential 2026 listing that could raise over US$25 billion, potentially making it one of the largest IPOs in history. The company may generate around US$15 billion in revenue in 2025, rising toward US$22-24 billion in 2026, with Starlink driving most of the growth.
A separate Starlink listing remains possible, which could simplify the valuation story for investors. Either way, SpaceX's dominance in commercial launches and rapid Starlink expansion make it one of the most anticipated IPOs in decades.
2. OpenAI
| US$830 billion to US$1 trillion | NYSE or NASDAQ | Low to moderate (filing possible late 2026) |
OpenAI is the company behind ChatGPT, the AI chatbot that sparked the generative AI revolution. Originally founded as a nonprofit in 2015, the company has since restructured with a capped-profit arm to attract investment, with Microsoft holding approximately 27% ownership.
CEO Sam Altman has been candid about IPO prospects, telling podcasters he is "0% excited" to be a public company CEO while acknowledging capital needs may force the move. CFO Sarah Friar is reportedly targeting a 2027 listing, with a possible filing in late 2026.
Internal valuations have reached as high as US$1 trillion, which would make OpenAI one of the most valuable companies to ever go public. Competition from Anthropic, Google and Meta remains fierce, and investors will want clarity on the path to profitability before committing at such lofty valuations.
3. Anthropic
| ~US$350 billion | NYSE or NASDAQ | Moderate |
Anthropic is the AI safety-focused company behind Claude, one of the leading large language models competing with OpenAI's ChatGPT. Founded by former OpenAI researchers, the company has positioned itself as the "responsible AI" alternative in the generative AI race.
The company's growth has been remarkable. Run-rate revenue jumped from approximately US$1 billion in early 2025 to over US$5 billion by August 2025, with targets of US$9 billion by year-end and potentially US$26 billion in 2026. Enterprise customers now account for 80% of revenue, which public markets typically view favourably.
Anthropic has engaged Wilson Sonsini to support IPO preparations, though a new funding round targeting a US$350 billion valuation may reduce urgency to list immediately. If the company can demonstrate improving unit economics alongside its explosive growth, a late 2026 IPO remains possible.
4. ByteDance (TikTok)
| ~US$330 billion | Hong Kong, Singapore or NYSE | Low (regulatory hurdles remain significant) |
ByteDance is the Beijing-headquartered tech giant that owns TikTok, the short-form video platform that has reshaped social media globally. The company also operates Douyin (TikTok's Chinese equivalent), news aggregator Toutiao and video editing app CapCut.
ByteDance is valued at approximately US$330 billion in secondary markets, ranking among the world's most valuable private companies. The company generates estimated annual revenue exceeding US$30 billion, driven by TikTok's advertising dominance and TikTok Shop's e-commerce expansion.
However, regulatory complexity remains the elephant in the room. ByteDance faces simultaneous scrutiny from US and Chinese regulators over data governance, and any IPO would require significant corporate restructuring. A partial listing of "TikTok Global" or ByteDance International could occur between late 2026 and 2027, depending on geopolitical stability.
5. Databricks
| ~US$134 billion | NYSE or NASDAQ | Low (strong private funding reduces urgency) |
Databricks is the data intelligence platform helping enterprises manage and analyse their data for AI applications. The company's products include Lakebase (a database for AI agents), Agent Bricks (for building AI agents) and partnerships with both Anthropic and OpenAI.
The company recently raised over US$4 billion at a US$134 billion valuation, up 34% from just three months earlier. Run-rate revenue now exceeds US$4.8 billion, with 55% year-on-year growth. Notably, over US$1 billion comes from AI products alone.
With three major funding rounds in less than a year, Databricks has shown it can raise significant capital without the scrutiny of public markets. Competitors include Snowflake, which is already public, as well as cloud giants like AWS and Google Cloud. While an IPO is likely on the horizon, the company appears in no rush given investor appetite for private placements.
6. Stripe
| ~US$91.5 billion | NYSE or NASDAQ | High |
Stripe is the payments infrastructure giant behind millions of online transactions globally. Founded by Irish brothers Patrick and John Collison, the company processes payments for businesses ranging from startups to Fortune 500 companies.
After years of anticipation, Stripe's IPO case is looking stronger than ever. Its international subsidiary reported its first profit in five years in 2024, alongside 34% revenue growth to US$5.1 billion. The company's acquisition of stablecoin player Bridge for US$1.1 billion also positions it well in the emerging crypto payments space.
Competitors include PayPal, Adyen and Square, but Stripe's developer-first approach and vertical integration have helped it carve out a dominant position in online payments. A US$100 billion IPO valuation target appears within reach, assuming market conditions hold.
7. Revolut
| ~US$45 billion | NASDAQ or London Stock Exchange | High |
Revolut is the London-based fintech that has grown into one of Europe's most valuable startups. With over 45 million users across 38 countries, the company offers digital banking, currency exchange, cryptocurrency trading and stock investing through a single app.
The numbers tell a compelling story: revenue surged to US$2.2 billion in 2023 with a record pre-tax profit of US$545 million. The company added 12 million new customers in 2023 alone, with 70% acquired through referrals. Securing a UK banking licence in 2023 after years of regulatory delays was a significant milestone.
The listing venue remains uncertain. Revolut has expressed interest in both NASDAQ (for its greater liquidity) and the London Stock Exchange (given its UK headquarters). Either way, the company's strong growth and profitability make it one of the most anticipated fintech IPOs in years.
8. Canva
| ~US$26 billion | NYSE or NASDAQ (ASX dual listing possible) | High |
Canva is the Australian-born design platform that has become a genuine challenger to Adobe. With over 240 million monthly active users, the company offers AI-powered tools that let anyone create graphics, videos and presentations without professional design skills.
Unlike many tech unicorns, Canva is already solidly profitable, having achieved seven consecutive years of profitability. Revenue hit US$2.5 billion in late 2024, up from US$2 billion the prior year. The hiring of Kelly Steckelberg (who helped take Zoom public) as CFO in 2024 signalled IPO preparations are well underway.
An August 2025 employee stock sale further suggests an IPO is imminent. While Canva competes directly with Adobe, its freemium model and focus on accessibility have carved out a distinct market position.
9. Discord
| ~US$25 billion | NYSE or NASDAQ | Very high (Q1 2026 target) |
Discord started as a chat platform for gamers but has since evolved into a broader community hub with over 200 million monthly active users. The platform generates revenue primarily through Nitro subscriptions, which offer enhanced features like custom emojis and larger file uploads.
The company has confidentially filed for a US IPO and is targeting a Q1 2026 debut. Working with Goldman Sachs and JPMorgan, Discord is aiming for a US$25 billion valuation, which would represent a significant jump from its 2021 private valuation of US$15 billion.
Discord faces competition from Slack, Microsoft Teams and Telegram, though its strong brand loyalty among younger demographics and expansion beyond gaming could support a premium valuation. The key question is whether it can demonstrate durable profitability.
10. Strava
| ~US$2.2 billion | NYSE or NASDAQ | Very high (Spring 2026 target) |
Strava is the social fitness platform beloved by runners, cyclists and outdoor enthusiasts worldwide. The app combines workout tracking with social networking features, letting users share activities, give "kudos" and compete on leaderboards.
The company has confidentially filed for an IPO and could go public as early as spring 2026. Valued at US$2.2 billion following a May funding round led by Sequoia Capital, Strava would offer a potential exit for long-term backers including TCV and Jackson Square Ventures.
Founded in 2009, Strava's popularity surged during the pandemic as fitness enthusiasts embraced its community features. The company competes with Apple Fitness, Garmin Connect and Nike Run Club, though its strong brand loyalty and engaged user base give it a defensible position in the market.
Final Thoughts
The upcoming IPOs for 2026 represent some of the most influential private companies in tech, from AI pioneers like OpenAI and Anthropic to consumer platforms like Discord and Strava. While not every company on this list will complete their IPO this year, the pipeline reflects renewed investor confidence and a maturing cohort of companies ready for public markets.
For investors watching the 2026 IPO calendar, the key themes are clear: AI dominance, fintech maturity and a return of mega-cap listings. As always, IPO timelines are subject to change based on market conditions, regulatory developments and company decisions. Investors should conduct their own research before making any investment decisions.
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This article reflects information accurate as of January 2026.
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