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Hristina Vasileva

2026 IPO wave draws crypto-style comparisons as SpaceX, OpenAI, Anthropic loom

The 2026 IPO calendar is being framed as similar to crypto token launches, with SpaceX, OpenAI and Anthropic expected to come to market at aggressive valuations and limited free floats. Analyst Thomas Tunguz estimates the trio could be valued at up to $3B in total, implying $432B–$576B in capital needs if floated at 20%. SpaceX’s filing also outlines potential early share-release conditions and faster index-inclusion pathways that could broaden participation from pension-fund liquidity.
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