OpenAI is preparing for an IPO in Q4 2026, potentially valuing the company at close to $1 trillion. The AI firm generates over $20 billion in annual revenue, with 810 million monthly active users and 1 million enterprise customers. It recently closed a funding round valuing it at $730 billion, backed by investors including Amazon, SoftBank, Nvidia, and Microsoft. Anthropic, another key player widely expected to go public, is valued at around $380 billion.
In addition to OpenAI and Anthropic, Elon Musk’s new conglomerate merging SpaceX with xAI aims for an IPO potentially valued at over $1.75 trillion, targeting filings within this week. Furthermore, Anduril Industries, specializing in AI-driven autonomous systems, is on track for an IPO, with revenue nearing $2 billion and a valuation rising from $14 billion to over $60 billion in two years.
Bloomberg Intelligence reports that S&P Global, FTSE Russell, and Nasdaq are considering “fast-track” rules to include these companies in major indices almost immediately after their IPOs, which could result in $24-48 billion in automatic passive demand due to index-linked assets. This significant supply-demand imbalance, with anticipated free floats of only 5-10%, could lead to unprecedented opening-day trading spikes, reminiscent of historic tech IPOs.
