A wave of high-profile tech IPOs is on the horizon, with SpaceX officially filing to go public on the Nasdaq and OpenAI expected to follow suit as early as Friday. Prediction markets indicate a 92% likelihood that OpenAI will launch its IPO this year, with traders estimating that both SpaceX and OpenAI could debut with valuations exceeding $1 trillion, potentially surpassing Warren Buffett’s Berkshire Hathaway.
These anticipated valuations are significant given the companies’ current revenue figures; SpaceX generated $18.67 billion in 2025, while OpenAI reported $13.1 billion. Despite being unprofitable, their massive valuations reflect a trend of prolonged private ownership and innovative capital-raising methods. Deutsche Bank’s Adrian Cox suggests that concerns about market absorption capacity may be overstated, as the overall U.S. stock market is now valued at approximately $70 trillion.
Market professionals should note that while these IPOs could challenge existing giants like Meta and Tesla, the influx of high-value listings may test investor appetite in a market that has seen fewer IPOs in recent years.
Source: cnbc.com