The Top 8 Upcoming IPOs to Watch in 2026

Opportunities, Risks, and What Smart Investors Should Keep an Eye On

Last year, we published a piece on the 10 Biggest Tech Pre-IPOs of all time,highlighting many of the private companies that have profoundly shaped the innovation landscape before their public debuts. And, as we enter 2026, investor curiosity is already ramping up for the next wave of major IPO candidates positioned for the year ahead.

After several years of fits and starts, the IPO window is finally reopening. Equity markets strengthened through the second half of 2025. While global IPO activity outpaced U.S.listings, many late-stage private companies used the last two years to shore up profitability, governance, and operational readiness.

The result is a pre-IPO pipeline that looks healthier — and far more interesting — than at any time since 2021.

Here is a curated look at the top upcoming IPOs to watch in 2026, focusing only on companies that have not yet gone public but are widely expected to do so. It’s a practical, investor-minded overview of the businesses building momentum, clarity, and scale heading into the new year. Keep your eyes peeled.

Shein

Estimated valuation: ~$66 billion

Singapore saw the success of Uniqlo(for its affordable, high-quality apparel) and Amazon (for its ecommerce convenience), and launched Shein, which remains one of the most anticipated consumer IPOs globally.

Since the pandemic, the fast-fashion giant has rewritten the rules of e-commerce with a data-driven,ultra-responsive manufacturing model and an enormous global customer base. But its path to the public markets may hinge on regulatory clarity in key jurisdictions.

After exploring dual listing venues over the past year — including the U.S. and Hong Kong — Shein appears closer to a decision. The company reported strong profitability heading into late 2025,even as tariff pressure and regulatory scrutiny intensified.

If Shein proceeds with a 2026 IPO, it could become one of the largest consumer listings since Alibaba. For investors, it represents a rare combination of scale, profitability, brand recognition, and global reach.

Stripe (Spin-Off Unit)

Parent valuation: ~$65 billion

Global payment processor and merchant services provider Stripe has signaled that it prefers to remain private for now. But industry chatter has focused on the possibility that one of Stripe’s major business segments — particularly its payments-infrastructure or banking-as-a-service units — could be spun out into a public vehicle.

Meanwhile, Stripe has restructured its internal divisions, sought even more profitability, and grown rapidly in adjacent fintech verticals. A partial IPO of a high-growth business line would allow Stripe to access public capital markets without exposing its entire corporate structure.

If such a listing occurs in 2026, it would be one of the most closely watched fintech events in years, and likely one of the biggest fintech IPOs in history.

Canva

Estimated valuation: $42–$50+ billion

Canva continues to operate as one of the most successful private software companies in the world. With billions in annual revenue, seven years of consistent profitability, and a rapidly expanding enterprise footprint, the company has outgrown its origins as a lightweight design tool.

Leadership has signaled that the gap between public-market expectations and private valuations is closing — and going public could enhance the company’s ability to compete at the top end of the software ecosystem.

While there is no formal filing, many industry observers believe 2026 may finally be the right window. For long-term investors, Canva could become one of the highest-quality SaaS listings in years.

Databricks

Estimated valuation: $43 billion (private)

Databricks has been on IPO watchlists for years. Although you may not have heard of it before, this critical companys its at the center of the world’s data ecosystem and infrastructure, powering modern analytics, AI workflows, and enterprise data lakes for thousands of organizations.

Although Databricks has consistently raised private capital at high valuations, management has emphasized operational readiness over market timing. With revenue reportedly above $1.5 billion annually and AI-related demand continuing to accelerate, 2026 could represent a natural moment for a public listing.

It would not be left-field to say that Databricks could be one of the most substantial enterprise-software IPOs in recent history.

Anthropic

Estimated valuation: $18–$30+ billion

Anthropic, the AI research company behind Claude, is often mentioned in the same breath as OpenAI — and for good reason. Founded by key ex-OpenAI employees, the competing AI startup has powerful model performance, some of the industry’s leading researchers, and backing from major strategic partners, quickly becoming a key player in the AI revolution.

While the company has been selective about fundraising and careful about governance, industry speculation increasingly points toward a potential 2026 or 2027 IPO. Anthropic has also invested heavily in training infrastructure and safety research, two areas public-market investors are watching closely.

If the company files this year, it could become one of the most consequential AI IPOs of the decade, especially since OpenAI does not (and may never) plan its own IPO, given its complex nonprofit-plus-for-profit structure.

Cohere

Estimated valuation: $8–12 billion

Cohere has become one of the most closely watched AI companies still in private hands, thanks in part to its clear enterprise focus and its leadership’s public comments about preparing for an IPO “soon.”

Unlike consumer-facing AI labs,Cohere’s strategy centers on privacy-secure, business-grade deployments that integrate directly with corporate data, making its platform especially appealing to large organizations adopting AI responsibly.

The company has gained traction with global enterprises and continues to differentiate itself through retrieval-augmented generation tools and flexible deployment models.

With AI spending expected to accelerate through 2026, a Cohere IPO would offer public-market investors arare pure-play exposure to applied enterprise AI — a theme that could resonate strongly in the coming year.

Flexport

Estimated valuation: $8–$10 billion

Flexport, a logistics technology company, has undergone a turbulent yet transformative period. With new leadership, a refocused business model, and significant strategic partnerships,Flexport is positioning itself to capitalize on global post-pandemic supply-chain modernization.

The company has also reportedly improved cost discipline, expanded product offerings, and regained traction with enterprise customers. Should these trends continue into 2026, Flexport could pursue an IPO as a more mature, operationally sound business.

Investors continue to view logistics tech as a long-term structural opportunity — and Flexport remains one of the most influential private players in the sector.

Redwood Materials

Estimated valuation: $5–$7 billion

Founded by Tesla co-founder JB Straubel, Redwood Materials is one of the most important companies in the emerging battery-recycling and circular-materials ecosystem.

As EV adoption accelerates and supply chains shift closer to home, Redwood’s ability to recover and re-refine battery components has placed it at the core of the United States’ domestic manufacturing strategy.

The company has secured major partnerships with EV and electronics manufacturers while building significant production infrastructure. With strong demand and substantial government tailwinds, Redwood may be ready for public markets sooner rather than later.

If Redwood goes public in 2026, it could become a bellwether for the growing clean-tech manufacturing sector for years to come.

Why Many Investors Look to the Pre-IPO Market

What ties these companies together is not their size, sector, or geography — it’s the fact that each:

●    Operates in a structurally important part of the modern economy

●    Has reached a scale where public-market scrutiny becomes a strategic advantage

●    Reflects the growing maturity of late-stage private markets

●    Represents potential seculart hemes investors care deeply about (AI, software, clean tech, consumer,fintech, biotech)

But even if 2026 brings a healthy IPO calendar, is participating in IPOs the best way to invest in these upcoming opportunities?

By the time a high-profile company goes public, much of the early growth — and often the most attractive pricing —has already happened in the private markets. That’s why many sophisticated investors consider pre-IPO opportunities instead.

Advantages of Pre-IPO Investing:

●    Early access to fast-growing companies

●    Early exposure before major revenue inflection points

●    Much more attractive valuations compared to IPO pricing

●    Diversify into alternative assets not correlated with market volatility

But the risks of investing in pre-IPOs are real, too, and may include:

●    Longer-term illiquidity

●    Uncertain IPO timelines

●    Possible valuation resets

●    Limited ability to exit before a listing

Simply put, pre-IPOs are not suitable for all investors — but with proper diligence and guidance, they can complement traditional public-market strategies.

How Pre-IPO Access Shapes Modern Portfolio Strategy

HUDSONPOINT capital provides access toselect private-market opportunities that are typically unavailable to individual investors. Our approach includes:

●    Rigorous screening and due diligence

●    Pooled investment structures that open doors to otherwise inaccessible deals

●    Risk-adjusted portfolio design tailored to long-term wealth goals

●    Clear education and transparency around the risks of private securities

If you’re interested in exploring pre-IPO opportunities — or want to understand whether they fit your broader portfolio strategy — our team is here to help.

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