Global public markets could see a renewed wave of large-scale initial public offerings in 2026, as several high-profile private companies explore potential listings. After years of subdued IPO activity, firms across artificial intelligence, fintech, telecommunications, and digital infrastructure have begun preparations for public market entry.
Market conditions and regulatory approval can still change timelines, but reports and statements from investors show that 2026 has become a key target year for many industry leaders.
SpaceX
SpaceX is at the center of global IPO discussions for 2026. Founded by Elon Musk, the private aerospace company has built a strong hold in orbital launch services, satellite deployment, and space infrastructure through its Falcon rockets and Starlink satellite network.
According to reporting from Reuters, SpaceX has explored the possibility of an IPO that could raise more than $30 billion. Estimates referenced by analysts and media coverage suggest a valuation range that could approach or exceed historical IPO records. Such a listing would surpass previous landmark offerings in both size and investor demand. SpaceX leadership has not announced a confirmed listing date, and executives have previously emphasized that timing would depend on market conditions and company readiness.
Starlink, the company’s satellite internet unit, plays a central role in these expectations. Revenues from satellite services continue to grow across government, enterprise, and consumer markets. Public market access could provide additional capital to fund infrastructure expansion and long-term development goals.
Reliance Jio
Reliance Jio, India's biggest provider of telecommunications and digital services, is another strong candidate for an IPO in 2026. The company operates under Reliance Industries and serves hundreds of millions of subscribers across India.
Public comments from Reliance leadership, reported by Indian financial media, indicate that the company targets a listing during the first half of 2026. Analysts cited by Investing.com have referenced valuation estimates near $170 billion, which would position Jio among the largest IPOs ever conducted in India.
Reliance Jio’s business spans mobile connectivity, broadband services, digital payments, cloud infrastructure, and media platforms. The listing would also mark a strategic shift for Reliance Industries, which has spent recent years restructuring assets and attracting global investors through private placements.
OpenAI
OpenAI has emerged as one of the most closely watched private companies globally due to its role in artificial intelligence development. The company supports AI models and enterprise AI services that are widely used and have quickly become popular in many fields.
According to a report from Reuters, OpenAI is getting ready for an IPO, and the company could be worth $1 trillion. OpenAI is one of the most valuable private companies in the world, though the company has not publicly confirmed plans to go public.
Anthropic
Anthropic, a leading rival to OpenAI, has also explored plans for a potential public listing in 2026, as the Financial Times reported. The company focuses on AI safety and large language model development, positioning itself as a direct competitor within the fast-growing AI sector.
Anthropic remains privately held and has not confirmed a timeline for an IPO. A potential public debut is reportedly being discussed internally as the business expands its enterprise partnerships and research capabilities.
Toss
South Korean fintech company Toss plans to pursue a U.S. IPO in 2026, according to reporting from IPOX. The company operates a financial “super-app” that integrates payments, banking, lending, and investment services.
Toss achieved rapid domestic adoption through simplified user experiences and mobile-first design. Its platform now serves millions of users across South Korea.
Reuters cites a potential valuation exceeding $10 billion, although final pricing would depend on market conditions and investor demand at the time of listing. Toss has not publicly confirmed a precise offering schedule but has taken preparatory steps consistent with a future IPO.
Revolut
Fintech company Revolut is widely expected to pursue a public listing in 2026. IG reports indicate that the company may opt for a dual listing on the Nasdaq and the London Stock Exchange.
Valuation estimates referenced in market discussions reach as high as $75 billion. Revolut operates across digital banking, payments, and financial services, serving customers across multiple regions.
A dual listing would position Revolut among a small group of fintech companies with significant presence in both U.S. and European public markets. The move would also revive debate around London’s ability to attract major technology listings.
Kraken
Cryptocurrency exchange Kraken remains one of the most prominent digital asset platforms considering a public offering. According to CNBC, the company has explored confidential IPO filings, which would allow regulatory review before public disclosure.
Kraken operates one of the largest cryptocurrency trading platforms globally, serving retail and institutional clients. A public listing would be a big deal for the cryptocurrency industry, especially since there is more government oversight in major markets.
Kraken reporting indicates a valuation near $20 billion, though pricing remains uncertain. Regulatory clarity continues to influence timing decisions across the crypto industry.
Quantum computing firm Xanadu
Quantum computing startup Xanadu has also entered IPO discussions, with reporting indicating potential plans for a NASDAQ listing via a SPAC transaction. The company focuses on photonic quantum computing systems and software development.
Xanadu operates within a sector that attracts long-term research funding and strategic partnerships rather than short-term profitability. Public market access could provide capital to support continued research and commercialization efforts.
According to CNBC, the company could raise several hundred million dollars through a public transaction, subject to market conditions and regulatory approval.
Broader IPO activity expands across South Asia
Beyond high-profile global offerings, regional markets show renewed momentum. Bloomberg reporting noted that Pakistan’s stock exchange expects up to 16 IPOs in 2026, following a multi-year equity market rally.
These listings cover the energy, manufacturing, and consumer sectors. They show more participation from people in the US than from investors from other countries. Analysts attribute the increase to improved market confidence and structural reforms.
India also features prominently in forecasts. LiveMint reports that companies such as PhonePe, Lenskart, SBI Mutual Fund, and Hero Motors could pursue IPOs in 2026. These firms operate across fintech, consumer retail, asset management, and manufacturing.
The breadth of listings highlights a shift away from technology-only IPO cycles toward diversified sector participation.
Market conditions shape IPO timing decisions
Despite strong interest, companies continue to emphasize caution around timing. Market volatility, interest rate expectations, and geopolitical risk remain influential factors. Many firms delayed listings during earlier periods of uncertainty and now prioritize stability over speed.
Confidential filings, dual-track strategies, and private funding rounds continue to serve as alternatives to immediate public offerings. 2026 listings may cluster around periods of sustained equity market performance rather than calendar milestones.
Final Words
The IPO pipeline forming for 2026 reflects a convergence of scale, sector diversity, and geographic reach. OpenAI and Anthropic highlight the rise of artificial intelligence firms, while SpaceX and Reliance Jio represent potential record-setting offerings. Companies like Revolut and Toss show that there is still a need for digital financial services. While timelines remain fluid, reported preparations confirm that a broad group of influential private companies views 2026 as a viable window for public listings.
Kataryna Dyl
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