The data shows that IPOs in 2026 are likely to be large-scale and high-profile, such as SpaceX, OpenAI, and Anthropic, or smaller and silent, with many lesser known tech companies submitting applications. In some ways, this is an encouraging sign. More IPOs show confidence in the market and technology industry, and when the best and fastest growing companies are open markets for investors to choose from, they are also beneficial to the economy. But there is also a less optimistic view. After years of sluggishness, private companies worth up to $2.9 trillion are expected to go public this year. This will mark a shift in the trend of declining company listings in the 21st century. For the private equity industry, however, the upcoming IPO boom may present an existential risk: for years, private equity funds have promised good returns on the books, but have never needed to be fulfilled. When some of the companies they invest in go public, they'll get a market price, and private equity investors will find out if their promised returns will come true. If not realized, the private equity industry could face historic contraction.

The data shows that IPOs in 2026 are likely to be large-scale and high-profile, such as SpaceX, OpenAI, and Anthropic, or smaller and silent, with many lesser known tech companies submitting applications. In some ways, this is an encouraging sign. More IPOs show confidence in the market and technology industry, and when the best and fastest growing companies are open markets for investors to choose from, they are also beneficial to the economy. But there is also a less optimistic view. After years of sluggishness, private companies worth up to $2.9 trillion are expected to go public this year. This will mark a shift in the trend of declining company listings in the 21st century. For the private equity industry, however, the upcoming IPO boom may present an existential risk: for years, private equity funds have promised good returns on the books, but have never needed to be fulfilled. When some of the companies they invest in go public, they'll get a market price, and private equity investors will find out if their promised returns will come true. If not realized, the private equity industry could face historic contraction.