What you will learn in this article -
What SpaceX, OpenAI, Anthropic, Databricks, and Canva are and why they matter
Key facts and verified figures for every major 2026 IPO
How GCC and Saudi investors can access these listings
Halal screening and portfolio sizing considerations
5 things every investor must know before buying any IPO
The year 2026 is home to the biggest IPOs in a generation. SpaceX, OpenAI, and Anthropic are heading for public markets within months of each other, carrying combined estimated valuations exceeding $3 trillion. For Saudi and GCC investors with access to US markets, this is a genuine once-in-a-decade moment, the chance to invest in companies that could define entire industries, from the very first day they trade publicly.
Goldman Sachs estimated in February 2026 that US IPO proceeds could hit a record $160 billion this year. According to KPMG, global IPO activity already raised $42.6 billion in Q1 2026 alone, up 45% year-on-year. The biggest listings are still ahead. If you are new to how US IPOs work, our complete IPO investing guide explains the process from start to finish.
The 2026 Megacap IPO Pipeline
SpaceX (SPCX) — A Candidate to Become the Largest IPO in Recorded History
SpaceX filed its S-1 with the SEC on May 20, 2026, followed by Amendment No. 1 on June 1 confirming the Nasdaq listing under ticker SPCX. The company is expected to price its shares on June 11 and begin trading on June 12, 2026, which would make it the largest IPO ever recorded.
Target valuation: $1.75 trillion — larger than Saudi Aramco, and comparable only to Apple, Microsoft, and Nvidia
Target raise: $75 billion — more than double Saudi Aramco's $29.4 billion record from 2019
Indicative offer price: $135 per share, 555.6 million Class A shares (Reuters-sourced, subject to final prospectus)
Lead underwriters: Goldman Sachs (lead left), Morgan Stanley, Bank of America, Citi, JPMorgan
2025 revenue: $18.5 billion (includes xAI following February 2026 merger)
Q1 2026 net loss: $4.28 billion — accumulated deficit of $41.3 billion
Starlink subscribers: 9 million+ across 100+ countries
Share structure: Dual-class — Elon Musk retains voting control
SpaceX is effectively three businesses: launch services (responsible for approximately half of all global orbital launches), Starlink satellite broadband, and the xAI segment absorbed in the February 2026 merger. At $1.75 trillion, SpaceX trades at 109 to 116 times 2025 revenues — a multiple that demands exceptional sustained growth. Nvidia, for comparison, trades at roughly 30 times trailing revenue and is already profitable. The valuation reflects Starlink's near-monopoly in low-orbit broadband, but also means real downside risk if growth decelerates.
For Saudi investors: Aramco's $29.4 billion raise was the global IPO record for seven years. SpaceX is targeting more than double that in a single transaction. Before sizing any position, see our guide on understanding risk in stock trading.
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Anthropic — Claude's Creator Files and Moves Ahead of OpenAI
Anthropic filed confidentially for an IPO with the SEC on June 1, 2026 — one week after OpenAI, and with the apparent goal of setting the AI category benchmark valuation before its rival does. Whoever lists first prices the sector for investors evaluating the second company.
Confidential S-1 filed: June 1, 2026 (TechCrunch, Forbes, The Information, Futurumgroup)
Latest valuation: ~$965 billion (Series H, May 28, 2026) — briefly overtook OpenAI
Series H raise: $65 billion — the largest AI fundraise and one of the largest private fundraises in history
Co-led by: Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue, D1 Capital Partners
Revenue run rate: ~$9 billion annualised (end-2025) → $47 billion annualised (April 2026) — nearly five times higher in just five months
Enterprise customers: 300,000+ businesses, representing ~80% of revenue; $100K+ annual customers grew 7x in one year
Claude Code: $2.5 billion annualised revenue as of February 2026
Expected listing: Q4 2026 (targeting October)
IPO legal advisor: Wilson Sonsini Goodrich & Rosati (managed Google's 2004 IPO)
The growth is extraordinary but the costs match it. Anthropic has committed an estimated $80 billion in cloud infrastructure spending through 2029 — including Google Cloud, AWS, and a deal to use all of SpaceX's Colossus 1 data centre capacity, giving it access to over 220,000 NVIDIA GPUs. Revenue is growing faster than costs for now, but it will still take several years before Anthropic turns a profit. For investors wanting AI exposure through companies already trading profitably, our NASDAQ 100 stocks guide covers the broader landscape.
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OpenAI — ChatGPT's Parent Targets a $1 Trillion Public Debut
OpenAI filed its S-1 confidentially with the SEC on May 22, 2026, confirmed simultaneously by Reuters, Bloomberg, Fortune, CNBC, and Axios. Goldman Sachs and Morgan Stanley are joint lead underwriters. The company targets a Q4 2026 listing at a valuation between $852 billion and $1 trillion.
Confidential S-1 filed: May 22, 2026 (Reuters, Bloomberg, Fortune, CNBC, Axios)
Latest private valuation: $852 billion (March 31, 2026 funding round — largest in Silicon Valley history)
March 2026 raise: $122 billion — led by Amazon ($50B), Nvidia ($30B), SoftBank ($30B)
Revenue: $13.1 billion full-year 2025; $2 billion per month by Q1 2026 (~$25 billion annualised)
ChatGPT weekly active users: 900 million+
Q1 2026 operating margin: negative 122% — lost $1.22 for every $1 of revenue earned
2026 projected net loss: ~$14 billion
Expected listing: Q4 2026, possibly September; potential valuation up to $1 trillion
OpenAI's cost structure explains the losses: over $100 billion committed to Azure, a $500 billion Stargate joint venture with SoftBank and Oracle, and $50 billion in US AI infrastructure with Fluidstack. Amazon's $50 billion investment also has a condition, $35 billion is contingent on OpenAI completing an IPO by 2028 or achieving AGI, creating a built-in timeline pressure. At a valuation approaching $1 trillion, this would not fit a traditional value-investing framework. It is a bet that ChatGPT's 900 million users and enterprise AI growth will eventually produce a sustainable, high-margin platform. See our market volatility guide for how to think about high-risk, high-multiple positions.
Databricks and Canva — Two More Significant 2026 Listings
Databricks (~$134 Billion)
The AI data infrastructure company reported $5.4 billion in revenues with 65% year-over-year growth, raised $5 billion in 2025, and — unlike OpenAI and Anthropic, is generating free cash flow. Over 10,000 organizations worldwide use its platforms to manage and build AI on their data. Expected to list in H2 2026. For GCC investors seeking AI infrastructure exposure with a more grounded financial profile, Databricks represents a meaningfully different risk than frontier model companies. Our technology stocks guide covers the wider AI sector landscape.
Canva (~$42 Billion)
The Australian-founded design platform has over 200 million users and has been profitable since 2017. It has reportedly engaged Goldman Sachs and Morgan Stanley for a Q3 2026 listing, with a dual NYSE and ASX structure under consideration. Of the five major 2026 IPO candidates, Canva is the most financially conservative, profitable, growing, and not dependent on massive infrastructure spend to scale.
What This Means for Saudi and GCC Investors
Most of these companies are targeting major public listings, with several expected to list in the US , the same Nasdaq and NYSE you already access through Raseed. No special requirements, no restricted status, no separate accounts. If you are wondering how to invest in SpaceX from Saudi Arabia or any other US IPO, the answer is the same as buying any Nasdaq stock: through a regulated platform with US market access like Raseed. GCC investors with access to eligible US markets can participate in these listings using the same trading infrastructure available for US-listed stocks., with the same order types, the same fractional investing from $1, and the same transparent fee structure.
Halal screening. SpaceX's core businesses, commercial launch services and satellite broadband, do not involve industries typically excluded under Shariah screening. The xAI merger introduces AI infrastructure elements that may require additional review. OpenAI and Anthropic should be individually assessed. Always verify with a qualified Islamic finance advisor. See our halal stocks guide.
Portfolio sizing. SpaceX trades at 109 times revenues. OpenAI is losing more than it earns. First-day IPO volatility is extreme in both directions. A measured approach, smaller initial positions, adding gradually after the first month is more sustainable than a concentrated day-one bet. Our dollar-cost averaging guide and portfolio diversification guide explain how to build positions responsibly.
Trade all US-listed stocks — including new IPOs on Raseed from Saudi Arabia. Open your account in minutes →
5 Things Every GCC Investor Must Know Before the Wave Hits
IPO offer price and day-one trading price are not the same.
The offer price is set the night before listing. The stock opens the next morning at whatever the market determines. High-demand IPOs regularly open 20–50% above the offer price, meaning day-one buyers often pay a significant premium over institutional investors.
SpaceX retail allocation is unusually generous.
Goldman Sachs allocated 30% of the SpaceX float to retail investors, three times the standard for a mega-cap IPO. Real access exists. But at $1.75 trillion valuation, exceptional sustained growth is required just to justify day-one pricing.
Dual-class share structures limit your voting rights.
SpaceX and likely OpenAI will list with dual-class structures. Elon Musk and Sam Altman retain far more voting power than their ownership percentage would normally suggest. You benefit economically if the stock rises, but governance stays with the founders.
Lock-up expiry dates create price pressure.
Early employees and pre-IPO investors are restricted from selling for 90–180 days post-listing. For a June 12 SpaceX listing, the 90-day lock-up expires mid-September 2026 and the 180-day lock-up in mid-December 2026, both worth noting.
These are not value investments — size positions accordingly.
SpaceX at 109x revenues, OpenAI losing $1.22 per dollar earned, Anthropic spending $80 billion on infrastructure through 2029, these are high-risk investments priced with very optimistic future expectations If any underperform in the first two public quarters, the stock price can fall sharply.
Frequently Asked Questions
Can Saudi investors buy SpaceX (SPCX) when it lists on June 12?
If the listing proceeds as currently expected, SpaceX is expected to trade on Nasdaq under SPCX from June 12.. GCC investors with a Raseed account can buy shares from day one — no special access or separate application required.
What are the expected IPO dates for OpenAI and Anthropic?
Both have filed confidentially but have not set listing dates. OpenAI targets Q4 2026, possibly September. Anthropic targets October 2026. Once publicly listed, both are accessible through Raseed like any other US stock.
What is the minimum investment for US IPO stocks on Raseed?
Raseed supports fractional investing from $1. At SpaceX's indicative $135 offer price, you can invest any amount from $1 upward and receive a proportional fractional position.
Is SpaceX halal?
SpaceX's launch services and broadband businesses generally meet standard Shariah screening criteria. The xAI merger adds AI infrastructure elements requiring individual review. Consult a qualified Islamic finance advisor and check our halal stocks guide for methodology.
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Disclaimer: For educational purposes only. Not financial advice. IPO details are based on publicly reported information as of June 4, 2026 and are subject to change until official SEC prospectuses are declared effective. All investing involves risk including potential loss of principal.