IPO
Completed — the 2026 class
5 debuts tracked (incl. late-2025 listings)| Company | IPO date | Ticker | Debut valuation | Day-one pop | Where it stands |
|---|---|---|---|---|---|
| Standard Nuclear TRISO nuclear-fuel maker; slashed the deal 58% before pricing and raised $150M. | Jul 16, 2026 | STDNNYSE | ~$2.4B | — | Public — priced after cutting its offering 58% |
| SpaceX The largest IPO in history — priced at $135/share (~$1.77T), raised ~$86B, closed day one near $2.1T. | Jun 12, 2026 | SPCXNasdaq | $1.77T | +19% | ~$1.77T market cap today |
| Cerebras Raised $5.55B at $185/share — the biggest US tech raise since Uber; opened +108% and closed day one near $95B. | May 14, 2026 | CBRSNasdaq | $56.4B | +68% | ~$48.5B market cap today |
| Klarna Priced at $40/share and raised $1.37B in its NYSE debut. | Sep 10, 2025'25 | KLARNYSE | ~$15B | +15% | Shares have roughly halved from the $40 offer price |
| Figma Priced at $33/share; tripled on day one to close near a $68B valuation. | Jul 31, 2025'25 | FIGNYSE | $18.8B | +250% | Fell 16% on Aug 5, 2026 despite a revenue beat, on soft guidance |
Filed & expected — the active pipeline
6 companies| Company | Status | Expected window | Key figure | Source |
|---|---|---|---|---|
| OpenAI Confidentially submitted a draft S-1 on June 8, 2026; Reuters reports it may wait until 2027 to list. | Filed | Likely 2027 | $852B last valuation | OpenAI / Reuters |
| Unitree Priced its Shanghai IPO Aug 6 at a ~$9B valuation; public subscription opens Aug 10 — listing imminent. | Filed | Aug 2026 · Shanghai STAR | ~$9B IPO pricing | CNBC |
| Anthropic Multiple reports of a confidential filing and investor meetings; Anthropic says timing is undecided. | Filed | Reported for late 2026 — unconfirmed | $965B last valuation | FT / Reuters reports |
| Databricks Hit $188B on a Coatue-led round in July 2026 — the most-watched name without a filing. | Expected | No S-1 yet | $188B private mark | Value Add Pulse |
| Plaid Reported to be lining up banks; weighing an offering at roughly $8B. | Expected | Weighing 2026–27 | $8B last valuation | Bloomberg |
| Cohere Hired the CFO who took Uber public; CEO says a debut is coming "soon." | Expected | No S-1 yet | $7B valuation · $240M ARR | CNBC |
Rumored — the watchlist
Chatter only — no filings on recordStripeRumored
$159B (tender offer, Feb 2026) last valuation
Profitable and says it's in no rush — employee liquidity keeps coming via tender offers instead.
Source: Company statements
MistralRumored
$13.7B last valuation
Europe's sovereign-AI champion; no filing, but persistent listing chatter.
Source: Value Add Pulse
VerkadaRumored
Banks reportedly lined up
Reported alongside Plaid to be quietly lining up banks for an offering.
Source: Value Add Pulse
Latest IPO coverage from Value Add Pulse
All IPO stories →IPO
The Fall 2026 IPO Pipeline Just Got More Crowded
Anthropic's IPO slid a second time to November as ADARx priced at a $1.74 billion target and two more biotechs filed to go public, showing this fall's IPO pipeline growing in volume even as its biggest name keeps slipping.
BY THE NUMBERS
IPO
Oura's $2.2B IPO Is Mostly A Payday For Insiders
IPO$2.2B IPO / $15.62B valuation
Oura's $2.2B IPO Is Mostly A Payday For Insiders
Oura set terms to raise up to $2.2 billion at a $15.62 billion valuation, but 36.5 million of the 50 million shares on offer are being sold by existing investors and employees, not the company.
DEEP DIVE
IPO
Retail Investors Are Chasing Anthropic Shares They Don't Own Yet
IPO
Retail Investors Are Chasing Anthropic Shares They Don't Own Yet
Retail investors are spreading money across multiple brokerages hoping for pre-IPO exposure to Anthropic and OpenAI, a strategy that left one investor with a fraction of his expected SpaceX gains after lockups and technical problems.
DEEP DIVE
IPO
TRex Bio, Retension File S-1s For Nasdaq IPOs
IPO
TRex Bio, Retension File S-1s For Nasdaq IPOs
TRex Bio and Retension Pharmaceuticals both filed S-1 registration statements for Nasdaq IPOs on the same day, joining a fall biotech listing wave with Eli Lilly backing TRex's autoimmune-disease pipeline.
DEEP DIVE
IPO
ADARx Sets Terms For $350M IPO, AbbVie Buys In
IPO$350M IPO
ADARx Sets Terms For $350M IPO, AbbVie Buys In
ADARx Pharmaceuticals set terms for a $350 million Nasdaq IPO at $15-$17 a share targeting a $1.74 billion valuation, with AbbVie agreeing to buy a roughly 4.9% stake in a concurrent private placement.
FOLLOW-UP
IPO
Anthropic Pushes IPO To November, Still Eyes $2T
IPO$2T target valuation
Anthropic Pushes IPO To November, Still Eyes $2T
Anthropic is sliding its IPO timeline a second time, from mid-October to November, as it waits to show investors a full quarter of results before pricing a listing still targeted at roughly a $2 trillion valuation.
FOLLOW-UP
IPO Tracker — common questions
Which tech companies IPO'd in 2026?
3 major tech IPOs have been completed in 2026 so far: Standard Nuclear (NYSE: STDN, Jul 16, 2026), SpaceX (Nasdaq: SPCX, Jun 12, 2026), Cerebras (Nasdaq: CBRS, May 14, 2026). SpaceX's June debut was the largest IPO in history at a ~$1.77 trillion pricing valuation. They follow late-2025 debuts Klarna (KLAR) and Figma (FIG).
When is the OpenAI IPO?
OpenAI confidentially submitted a draft S-1 to the SEC on June 8, 2026, but has not set a listing date — Reuters reports it may wait until 2027. The company was last valued at $852B. It remains privately held while the IPO is pending.
What was the biggest IPO of 2026?
SpaceX — it priced on Jun 12, 2026 at $135 per share for a ~$1.77 trillion valuation, the largest initial public offering in history, raising roughly $86B. The biggest day-one pop of 2026 belongs to Cerebras, which closed its debut up 68%.
What tech IPOs are coming next?
The active pipeline includes OpenAI ($852B last valuation), Unitree (~$9B IPO pricing), Anthropic ($965B last valuation), Databricks ($188B private mark), Plaid ($8B last valuation), Cohere ($7B valuation · $240M ARR). On the watchlist: Stripe, Mistral, Verkada.