IPO Outlook: The short list of the biggest deals expected in 2026

The IPO Market is poised to resume its long-awaited pickup in 2026.Here’s what you need to know to stay on top of the year ahead.The IPO market continued its gradual recovery in 2025. New issuance reached a four-year high, and demand for disruptive tech plays encouraged more high-profile names to test the waters, like Klarna, Bullish, CoreWeave, and Circle. However, hopes for a full rebound were dashed by volatility from tariffs, an extended government shutdown, and a late pullback in AI stocks, and many IPO candidates continued to take advantage of generous private funding while seeking to avoid down rounds in the public market. Now, with more stable ground underfoot and a backlog brimming with the next wave of innovators, we’re optimistic that the IPO market will resume its long-awaited pickup in 2026. We expect to see the past year’s uptick in venture-backed issuance to continue, particularly as more AI-related companies mature and seek to tap into growing demand from public investors. Themes like fintech, healthtech, digital assets, and defense should carry into the coming year, and potential big-name IPOs include OpenAI, Anthropic, and SpaceX. We estimate a range of 200-230 IPOs in 2026, raising $40-$60 billion, driven by a more robust comeback from larger issuers.In this short piece, we highlight anticipated 2026 IPOs publicly on file (pg 2), and on our Private Company Watchlist (pg 3). For a more thorough look back at last year, check out our 2025 Annual Review (full report on IPO Pro). View our 2026 Outlook