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SpaceX, OpenAI and Anthropic Target 2026 Mega-IPOs, BlackRocks BSTZ Offers Early Exposure
SpaceX, OpenAI and Anthropic are preparing to become the largest public offerings of 2026, with valuations that could exceed $1 trillion each. The filings, announced in early June, signal a wave of mega‑IPOs that could reshape the technology and space sectors. BlackRock’s Science and Technology Term Trust (BSTZ), a closed‑end fund that trades at a discount to net asset value, has positioned itself as a vehicle for retail investors seeking early exposure to these high‑profile companies.
SpaceX filed a confidential S‑1 with the SEC on April 1 2026. The filing set a target valuation of $1.75 trillion, a figure that would make the company the most valuable public firm ever. On June 9 2026, SpaceX announced an IPO price of $135 per share, valuing the company at $1.77 trillion. The offering is scheduled for June 2026 and would surpass the 2019 Saudi Aramco IPO as the largest in history.
OpenAI announced a confidential IPO filing on June 8 2026. The company is working with Goldman Sachs and Morgan Stanley on the potential listing. OpenAI’s valuation is reported to be around $1 trillion, placing it among the few firms that could break the trillion‑dollar barrier. The filing follows OpenAI’s launch of the Sora video‑generation app in late 2024, a partnership with Disney, and the app’s shutdown in April 2026.
Anthropic filed a draft registration statement on June 1 2026. The private AI firm is valued at $380 billion, a figure that has more than doubled in five months. Anthropic’s target IPO date is October 2026, and the company has hired Wilson Sonsini as legal counsel. The filing positions Anthropic as the largest pure‑play AI listing in the United States.
BlackRock’s BSTZ is a closed‑end investment trust that focuses on science and technology equities. The fund’s objective is to deliver total return and income through current income, current gains and long‑term capital appreciation. BSTZ trades at a discount or premium to net asset value; the discount is currently in place, which creates a potential for additional returns if the spread narrows. The fund’s portfolio is heavily weighted in high‑growth technology companies, and its high distribution rate makes it attractive to investors seeking income.
BSTZ has been marketed as a pre‑IPO vehicle for high‑profile tech firms. The trust’s structure allows retail investors to gain exposure to companies such as Anthropic before they go public. By purchasing BSTZ shares, investors can benefit from the fund’s exposure to the broader technology sector while the discount to NAV offers a potential upside.
The 2026 IPO window is expected to attract significant capital. SpaceX’s valuation would place it near Saudi Aramco’s 2019 market value, and OpenAI and Anthropic’s valuations would put them among the few firms that could break the trillion‑dollar barrier. The filings also signal a broader trend of large technology and space companies moving to public markets after years of private growth.
Investors and market observers are watching the timing of each filing closely. SpaceX’s June launch would precede OpenAI’s and Anthropic’s later filings, potentially setting a benchmark for pricing and investor demand. The close‑end fund structure of BSTZ offers a unique entry point for retail investors, but the discount to NAV and the fund’s high distribution rate mean that the investment carries its own set of risks.
In the coming weeks, the companies will file final registration statements, and the SEC will review the documents. The market will also monitor the pricing of the IPOs and the performance of BSTZ shares. As the 2026 IPO cycle unfolds, the technology and space sectors will likely experience increased scrutiny from regulators, investors, and the public.
The current situation is that SpaceX, OpenAI and Anthropic have all filed confidentially for IPOs, with valuations ranging from $380 billion to $1.77 trillion. BSTZ remains a closed‑end fund offering pre‑IPO exposure to high‑growth tech companies. Upcoming events include the finalization of registration statements, the setting of IPO dates, and the monitoring of BSTZ’s discount to NAV. These developments will shape the trajectory of the 2026 mega‑IPO landscape.
SpaceX filed a confidential S‑1 with the SEC on April 1 2026. The filing set a target valuation of $1.75 trillion, a figure that would make the company the most valuable public firm ever. On June 9 2026, SpaceX announced an IPO price of $135 per share, valuing the company at $1.77 trillion. The offering is scheduled for June 2026 and would surpass the 2019 Saudi Aramco IPO as the largest in history.
OpenAI announced a confidential IPO filing on June 8 2026. The company is working with Goldman Sachs and Morgan Stanley on the potential listing. OpenAI’s valuation is reported to be around $1 trillion, placing it among the few firms that could break the trillion‑dollar barrier. The filing follows OpenAI’s launch of the Sora video‑generation app in late 2024, a partnership with Disney, and the app’s shutdown in April 2026.
Anthropic filed a draft registration statement on June 1 2026. The private AI firm is valued at $380 billion, a figure that has more than doubled in five months. Anthropic’s target IPO date is October 2026, and the company has hired Wilson Sonsini as legal counsel. The filing positions Anthropic as the largest pure‑play AI listing in the United States.
BlackRock’s BSTZ is a closed‑end investment trust that focuses on science and technology equities. The fund’s objective is to deliver total return and income through current income, current gains and long‑term capital appreciation. BSTZ trades at a discount or premium to net asset value; the discount is currently in place, which creates a potential for additional returns if the spread narrows. The fund’s portfolio is heavily weighted in high‑growth technology companies, and its high distribution rate makes it attractive to investors seeking income.
BSTZ has been marketed as a pre‑IPO vehicle for high‑profile tech firms. The trust’s structure allows retail investors to gain exposure to companies such as Anthropic before they go public. By purchasing BSTZ shares, investors can benefit from the fund’s exposure to the broader technology sector while the discount to NAV offers a potential upside.
The 2026 IPO window is expected to attract significant capital. SpaceX’s valuation would place it near Saudi Aramco’s 2019 market value, and OpenAI and Anthropic’s valuations would put them among the few firms that could break the trillion‑dollar barrier. The filings also signal a broader trend of large technology and space companies moving to public markets after years of private growth.
Investors and market observers are watching the timing of each filing closely. SpaceX’s June launch would precede OpenAI’s and Anthropic’s later filings, potentially setting a benchmark for pricing and investor demand. The close‑end fund structure of BSTZ offers a unique entry point for retail investors, but the discount to NAV and the fund’s high distribution rate mean that the investment carries its own set of risks.
In the coming weeks, the companies will file final registration statements, and the SEC will review the documents. The market will also monitor the pricing of the IPOs and the performance of BSTZ shares. As the 2026 IPO cycle unfolds, the technology and space sectors will likely experience increased scrutiny from regulators, investors, and the public.
The current situation is that SpaceX, OpenAI and Anthropic have all filed confidentially for IPOs, with valuations ranging from $380 billion to $1.77 trillion. BSTZ remains a closed‑end fund offering pre‑IPO exposure to high‑growth tech companies. Upcoming events include the finalization of registration statements, the setting of IPO dates, and the monitoring of BSTZ’s discount to NAV. These developments will shape the trajectory of the 2026 mega‑IPO landscape.
