SpaceX and Anthropic: The Most Exciting IPOs Ever?

IPO activity post-pandemic has fluctuated significantly, primarily driven by economic uncertainty, rising interest rates, and inflation, all of which have impacted investor sentiment.

But the tide has shifted in a positive direction over the past few years, with 2026’s lineup, which includes SpaceX and Anthropic, likely the most exciting year we’ve seen in decades concerning debuts. Let’s take a closer look at some of the details surrounding the companies.

Anthropic

Anthropic has officially submitted its confidential draft S-1 prospectus with the SEC, setting up one of the largest tech IPOs in history. The company is expected to target a valuation clearing $1 trillion, building on the momentum of a massive Series H funding round that valued it at $965 billion.

The public listing is anticipated to potentially come as early as this fall, likely reflecting the biggest market story of the back half of 2026. The company's enterprise-focused AI ecosystem is its primary growth engine, with annualized revenue skyrocketing to a staggering $47 billion.

Notably, Anthropic is solidifying its position as a dominant force in corporate AI and critical infrastructure. Driven by the commercial success of enterprise tools like Claude Code, the company is scaling aggressively. To sustain this explosive compute demand, Anthropic has also secured a massive $15 billion-a-year data center lease with SpaceX alongside cloud partnerships with Amazon and Google.

Read more - Anthropic IPO 2026 Guide: Everything You Need to Know and Consider

SpaceX

SpaceX has officially filed its public S-1 prospectus with the SEC, setting the stage for the largest IPO in stock market history. Trading under the ticker SPCX, the company is targeting a historic valuation between $1.75 trillion and $2 trillion and aims to raise up to $75 billion in capital.

The public debut could happen as early as June 12^th, so definitely expect it to remain one of the hottest market stories in the near-term. The company's Starlink satellite internet segment is its primary profit engine, with over 10 million subscribers.

Notably, SpaceX is aggressively transforming into an AI and infrastructure giant. After absorbing Elon Musk’s AI startup xAI in a stock-based deal earlier this year, SpaceX spent a staggering $12.7 billion on AI infrastructure in 2025 alone. It is also partnering with Tesla TSLA on a chip-making project called ‘Terafab’ to build its own AI hardware.

Read more - SpaceX IPO 2026 Guide: Everything You Need to Know and Consider

Beyond Nvidia: AI's Second Wave Is Here

The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.

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This article originally published on Zacks Investment Research (zacks.com).

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