SpaceX, OpenAI, and Anthropic could reopen the IPO market—or drain it

A surge in giant AI financings—roughly $300 billion into about 6,000 startups in Q1 2026, with about 80% of that capital going to AI—has revived speculation that blockbuster listings from SpaceX, OpenAI and Anthropic could reopen the IPO market. Late-stage funding jumped to $246.6 billion across 584 deals (including $235 billion in 158 rounds of $100M+), leaving many well‑funded private companies but a selective public exit window. While 2025 saw IPO activity stabilize (1,293 deals raising $171.8 billion), the piece warns the three mega-issuers could either catalyze a broader tech IPO wave or concentrate investor demand and delay other listings. The market remains bifurcated between legacy SaaS-era unicorns with revenue histories and nascent AI-native firms showing early, volatile growth—keeping public-market readiness uneven.