The market is bracing for two massive initial public offerings from two tech rivals.
Elon Musk’s SpaceX on Wednesday officially disclosed plans to list on the Nasdaq. But OpenAI, led by Sam Altman, who this week fended off a lawsuit from Musk — threatens to steal the thunder from SpaceX, with a confidential filing potentially coming this week, The Wall Street Journal reported.
The listings would make 2026 the largest year ever for IPOs: AI startup Anthropic is also exploring a debut. OpenAI will likely face considerable challenges, however, including questions from investors over whether it can generate enough revenue to support its data center spending, amid fierce competition with Anthropic for customers.