After years of muted public market activity, the US IPO market may finally be waking up — and this time, it’s not just any companies leading the charge. Some of the most influential private tech firms in the world, including SpaceX, OpenAI, and Anthropic, are reportedly preparing for potential initial public offerings (IPOs).
If even one of these companies lists, it could mark the start of the largest tech IPO wave in years. If more follow, the impact on markets, investors, and the global innovation ecosystem could be profound.
What’s Happening in the Tech IPO Market?
Three generational technology companies are moving closer to IPO readiness:
- SpaceX, the private space and satellite giant
- OpenAI, the company behind ChatGPT and a leader in artificial intelligence
- Anthropic, one of the fastest-growing AI safety and research firms
Each of these companies could command valuations in the hundreds of billions of dollars. Combined, their potential capital raise could exceed the total amount raised by all US IPOs last year — a striking statistic that highlights just how significant this moment could be.
After a prolonged IPO drought driven by rising interest rates, inflation, and market volatility, this shift suggests that confidence may be returning to public markets.
Immediate Effects on Markets and Investors
The short-term implications of major tech IPOs would be hard to ignore.
First, it would send a strong positive signal for technology stocks, particularly those linked to artificial intelligence, cloud infrastructure, and deep tech. Investor appetite for growth stories appears to be rebuilding, and high-profile listings often act as confidence catalysts.
Second, a successful listing by one or more of these firms would likely open the floodgates for other tech IPOs. Many private companies have been waiting for the right moment to go public. Seeing market leaders test the waters could accelerate those timelines.
Third, this would be a major win for venture capital firms, early investors, and investment banks that have been holding stakes through years of uncertainty. Advisory fees, exits, and capital recycling would all rise sharply — injecting fresh momentum into the broader financial ecosystem.
Finally, it would signal a revival of the IPO market itself, which has remained subdued compared to pre-2021 levels.
The Bigger Picture: Why This Matters
Beyond short-term market moves, the long-term implications could be even more important.
A wave of AI-driven IPOs would further cement artificial intelligence as the dominant global investment theme of this decade. It reinforces the idea that AI is not a speculative trend, but a foundational technology reshaping industries, productivity, and economic growth.
Public listings of companies like OpenAI and Anthropic could also boost overall market sentiment, encouraging greater capital allocation toward innovation, research-intensive businesses, and long-term growth strategies.
More broadly, this moment could represent a shift from an “IPO drought” to a potential IPO super-cycle, where pent-up supply of private companies meets renewed investor demand.
My Takeaway
These companies aren’t simply reacting to favourable market conditions — they are shaping them.
When generational firms like SpaceX and OpenAI move toward public markets, they don’t follow the cycle. They create it. Their scale, ambition, and strategic importance redefine how investors think about valuation, growth, and long-term value creation.
If these IPOs go ahead, this won’t just be a good year for public markets. It could fundamentally redefine how investors approach AI, scale, and innovation for the next decade.
The question is no longer whether the tech IPO market will return — but how big this next wave could be.
