SpaceX IPO'd, and Anthropic and OpenAI Could Go Public in 2026. Should You Buy All Three?

Following the initial public offering of Space Exploration Technologies (NASDAQ: SPCX), aka SpaceX, on June 12, there are two more trillion-dollar companies gearing up to become some of this year's biggest IPO stocks: top artificial intelligence (AI) start-ups Anthropic and OpenAI. As SpaceX includes not just Elon Musk's space-related ventures but also his AI start-up, xAI, Musk's newly public company competes with these two companies.

After SpaceX raised $85.7 billion, on a valuation of around $1.8 trillion, both Anthropic and OpenAI will likely compete to see if they can beat it, in terms of both capital raised and post-IPO valuation. Let's take a look at each of these public and soon-to-be-public AI stocks and see whether they are worth adding to your buy list.

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SpaceX's debut paves the way for more blockbuster IPOs

If you thought SpaceX went public at nosebleed valuation, consider how investors have kept bidding it up post-IPO. Since its debut less than two weeks ago, shares in the Musk-founded company have rallied by just over 23%. With a $2.43 trillion market cap, it's more valuable than other space stocks by a wide margin. The overall success of the SpaceX IPO arguably paves the way for Anthropic and OpenAI to have successful IPOs as well.

Of the two AI start-ups, Anthropic is the closest to going public. On June 1, the company behind the popular Claude AI platform confidentially submitted its Form S-1 to the Securities and Exchange Commission (SEC).

With Anthropic recently raising $65 billion at a $965 billion valuation, the indications are that when it goes public, the offering could beat SpaceX's record-setting raise, even if Anthropic fails to match its valuation. OpenAI, the company behind ChatGPT, has also recently filed its confidential S-1 filing with the SEC.

Yet while current odds on prediction markets like Kalshi suggest Anthropic will go public this fall, OpenAI CEO Sam Altman's vague statements about "going public within the next year" have Kalshi traders divided over whether the company will go public later this year or during the first half of 2027. Moreover, with OpenAI's latest funding round valuing it at $852 billion, it's unclear whether the company will hit a trillion-dollar valuation post-IPO.

To buy or not to buy

Investors now have the option to buy into SpaceX, but if you decide to buy, it had better be for a reason more substantive than fear of missing out (FOMO). SpaceX's space exploration and AI infrastructure catalysts will take years to play out. Meanwhile, in the near term, shares could continue to pull back as pent-up demand dissipates.

In terms of valuation, SpaceX trades for a steep 125 times sales. This rich multiple may be another reason to sit tight for now. As for Anthropic and OpenAI, if you're bullish on their long-term prospects, you may want to take your time before entering a position.

Like with SpaceX, shares could rocket higher initially, only to pull back as investor focus shifts toward current operating performance and fundamentals. While not yet public, published reports indicate OpenAI continues to burn through tens of billions of dollars a year. Even as Anthropic is growing fast, with the company expected to generate more revenue this quarter alone than it did during all of 2025, much of this is already factored into the for-now private company's nearly trillion-dollar valuation.

Thomas Niel has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.