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
Treasury Yields Push Past 5% Again On Fed Decision Eve
The 10-year Treasury yield climbed to 5.041% and oil held near $107.55 as traders priced a 92% chance of a Fed rate hike Wednesday, up from 88% odds a day earlier, with futures pointing to a lower open.
FOLLOW-UP
IPO
Why 2026 Has Fewer IPOs Than 2025 Despite Bigger Ones
IPO
Why 2026 Has Fewer IPOs Than 2025 Despite Bigger Ones
Value Add Pulse compared the 2026 US listing tally with 2025 and found slightly fewer deals despite record-sized offerings, a mix shift toward large asset-heavy issuers rather than a broad reopening.
DEEP DIVE
IPO
This Week's Micro-Cap S-1s: Oil Leases, Gold, Two SPACs
IPO
This Week's Micro-Cap S-1s: Oil Leases, Gold, Two SPACs
Four small-cap S-1 filings landed September 10-11: an Alberta oil-and-gas shell, a Malaysian iron-ore resale registration, and two blank-check SPACs targeting a combined roughly $175 million, none tied to venture-scale operating businesses.
BY THE NUMBERS
IPO
Chips Sank And Hyperscalers Rose On Amodei's AI Essay
IPONvidia -3%, Micron -6%
Chips Sank And Hyperscalers Rose On Amodei's AI Essay
Markets repriced the AI trade along a single fault line after Dario Amodei's pacing essay: semiconductor names fell hard while Alphabet, Microsoft and Meta gained.
FOLLOW-UP
IPO
Three IPOs Set Terms For A $1.8B Week On Nasdaq
IPO~$1.8B combined
Three IPOs Set Terms For A $1.8B Week On Nasdaq
Holtec Nuclear, Bamboo Insurance and Electra Therapeutics set IPO terms within a day of each other, lining up roughly $1.8 billion of Nasdaq supply alongside Orion180's pricing.
FOLLOW-UP
IPO
The Treasury 10-Year Hit 5% And Oil Jumped To $107
IPO
The Treasury 10-Year Hit 5% And Oil Jumped To $107
The 10-year Treasury yield touched 5% for the first time since 2023 and Brent crude rose to about $107 after a Saudi pipeline shutdown, with traders pricing an 88% chance of a Fed hike Wednesday.
DEEP DIVE
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.