Goldman Sachs Predicts Record $160 Billion IPO Boom as SpaceX, OpenAI, Anthropic Eye Public Debut

Wall Street investment banking giant Goldman Sachs has issued a bold prediction that 2026 will become the largest IPO year in history, with initial public offering proceeds expected to quadruple to a record-breaking $160 billion. The forecast comes as marquee names including SpaceX, OpenAI, and Anthropic edge closer to public listings that could reshape the investment landscape.

The projection marks a dramatic reversal from the IPO drought that has gripped markets since 2022, when rising interest rates and economic uncertainty forced many companies to postpone their public market debuts. Goldman's analysts now expect the number of IPOs to double to 120 this year, driven by improving economic growth, stronger equity prices, and easier financial conditions that are reviving corporate America's appetite for dealmaking.

AI Giants Lead the Charge

At the center of investor attention are ultra-valuable artificial intelligence companies whose potential public debuts could define the scale and tone of the next IPO cycle. OpenAI, the creator of ChatGPT, was most recently valued at $830 billion and sources suggest a public offering could push its valuation into trillion-dollar territory by late 2026 or 2027.

The Sam Altman-led company has signaled its IPO readiness by hiring veteran finance executive Sarah Friar as CFO, who previously guided Square and NextDoor through their public market debuts. OpenAI is also integrating advertising into ChatGPT and its enterprise AI tools to establish more durable revenue streams beyond its current subscription model.

Meanwhile, San Francisco-based AI lab Anthropic, creator of the Claude chatbot, hinted at IPO plans after raising $10 billion in funding at a $350 billion valuation. The company brought on Airbnb IPO veteran Krishna Rao as chief financial officer and hired Wilson Sonsini, the law firm that guided Google and LinkedIn's public offerings, to begin legal and banking preparations.

Unlike many AI companies burning through cash with unclear paths to profitability, Anthropic has set an ambitious target to break even by 2028. The company reportedly generated roughly $9 billion in annual recurring revenue in 2025 and projects $20 billion this year, scaling to $70 billion by 2028.

Elon Musk's SpaceX Reverses Course

Perhaps the most surprising IPO candidate is SpaceX, where CEO Elon Musk reversed years of resistance to going public. After previously stating the rocket company would remain private until it was "flying regularly to Mars," Musk confirmed SpaceX could debut in 2026, with reports suggesting a June timing to coincide with his birthday and a rare planetary alignment.

The change appears driven by massive capital requirements for the AI gold rush, as Musk seeks funding for ambitious projects including launching data centers into orbit. SpaceX recently acquired Musk's AI startup xAI, creating a combined entity valued at $1.25 trillion that would rank as the most valuable private company in the world.

A powerhouse consortium of Wall Street firms including Morgan Stanley, Goldman Sachs, JPMorgan Chase, and Bank of America has reportedly been tapped to lead what could become the largest IPO in history. Musk has indicated that priority share allocations will be reserved for long-term Tesla shareholders.

Market Conditions Align

Goldman analysts noted that the forecast represents the biggest year on record in absolute proceeds, though IPO value would still represent only a small portion of overall U.S. market capitalization, reflecting the equity market's dramatic growth over the past decade. Twelve firms have already raised about $5 billion via IPOs in early 2026, including AI equipment maker Forgent Power and biopharmaceutical company Eikon Therapeutics.

Software and healthcare companies are expected to dominate the IPO pipeline by volume, while a handful of late-stage technology and artificial intelligence firms will drive the massive proceeds figures. However, analysts warned that an early-year selloff in software stocks underscores valuation risks, especially as the sector accounts for about a quarter of the IPO backlog.

"Continued volatility in share prices and corporate confidence are the key macro risks to our forecast," Goldman analysts cautioned in their Friday research note. "The substantial weight of software in the IPO backlog is another risk."

Beyond the AI Giants

While AI companies grab headlines, other notable IPO candidates include design platform Canva, valued at $42 billion after an employee stock sale, and fitness app Strava, which confidentially filed for a potential spring 2026 offering at a $2.2 billion valuation. Data analytics company Databricks, with a $134 billion private valuation, has also hired experienced IPO leadership and claims to have been "IPO ready" since 2020.

The anticipated IPO boom comes as markets hover near record highs and investor appetite for AI-related investments remains robust. For companies that have delayed going public for years while growing on private venture capital, 2026 may represent a critical window to access public markets before economic conditions potentially shift again.

Goldman's base case projects proceedings ranging from roughly $80 billion to almost $200 billion, compared with their $160 billion central forecast, suggesting significant potential for the IPO market to exceed even these bullish expectations if market conditions remain favorable and the AI giants successfully execute their public market strategies.

For investors seeking to understand these market dynamics, expert analysis suggests studying comprehensive IPO investing guides that examine the complexities of initial public offerings and their impact on broader financial markets.