Whether or not this is the year that some of the biggest AI IPOs hit the public markets, there’s certainly a packed pipeline of private firms that could steadily go live at some point over the next two, maybe three, years. Undoubtedly, it’s been more than three years since we were treated to the technological marvel that is OpenAI’s ChatGPT. And at long last, everyday retail investors might finally have a chance to pick up a few shares.
The price of admission could be incredibly steep, especially if the latest funding round goes well.
Could a $1 trillion IPO be on the table in the second half of the year or at some point in 2027?
Of course, an AI bubble could derail such an unprecedented valuation. But if AI does live up to the hype, with new agentic technologies taking the world by storm (I view OpenAI’s Codex as an impressive response to Claude Code), I certainly wouldn’t be surprised if the AI IPO boom hits the ground running.
Perhaps the slew of potential AI IPOs could lead to a frenzy that results in an AI bubble at some point down the line. But for now, it feels like the AI revolution is real, and with agentic AI coming into its prime, perhaps the bubble is in software-as-a-service companies that aren’t fully invested in the future of AI. In any case, there’s a significant risk of being left behind as the AI boom moves into the agentic era.
So, should investors start saving up now to participate in an AI IPO boom? And which names are worth watching for? It’s hard to say right now, especially since the IPO valuations could end up on the higher end. Either way, expect hype and massive interest as three of the most exciting entities in the world finally go public.
OpenAI
OpenAI is the AI leader, but the big question is if it can stay on top on IPO day. Sam Altman is “flooring it” as his firm looks to scale up, even if it means making some investors out there a bit nervous about capex. With the latest funding round pinning the valuation at around $830 billion, the $1 trillion IPO certainly does seem feasible. Of course, we’ve heard quite a few rumors surrounding “drama” from OpenAI and Nvidia (NASDAQ:NVDA | NVDA Price Prediction) as an investment looms. Jensen Huang has since shot down such baseless rumors, so investors certainly shouldn’t make too much of the overly dramatic headlines.
In any case, OpenAI is a frontrunner in the AI race, and it could be a hot buy in its first few days of trading, even if some are growing increasingly concerned about its financial situation.
Could OpenAI be getting ahead of its skis with its capital expenditures? Time will tell. Either way, I think there’s a good chance OpenAI will be in better financial shape as it readies for an IPO. Whether that means raising more capital, making decent cash flow via ads, or a new AI-first tool, there’s plenty of reason to be hyped about the original AI innovator.
Anthropic
For those worried about OpenAI’s aggression and finances, Anthropic seems like a safer bet. Combined with recent innovations that have taken the world by storm (think Cowork) and the impact on the software industry, I think Anthropic could be a blistering-hot IPO. The valuation currently sits at around $350 billion.
With its enterprise focus and “AI safety” mentality, perhaps Anthropic is a worthy pick-up on IPO day. Perhaps the biggest takeaway is that the financials and roadmap are going to be further along than the likes of OpenAI.
But the big question is, will its efficiency focus come at the cost of being second (or even third) to AGI? Time will tell.
SpaceX-xAI
Elon Musk’s SpaceX and xAI are joining forces. And once the entity goes public, it could land at a whopping $1.25 trillion. That’s a record IPO and one that’s sure to have a massive following. Whether you’re looking for space-based AI or you’re a Grok fan who wants rocket exposure, you’ve probably already decided you want a front-row seat to the SpaceX-xAI IPO, even if it means paying an out-of-this-world price.
If the IPO does come in late 2026, markets are sure to be paying close attention. If you’re cool with paying the Musk premium, though, perhaps a few shares might make for a decent starter position, even if it means dealing with intense volatility out of the gate.
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