Three Hotly Anticipated AI IPOs: Which One Is Poised to List First?

While the SpaceX IPO grabs the headlines, 3 different backstage AI and defence names connected the 2026 archetypal nationalist offering (IPO) calendar are besides highly anticipated: Anduril, Anthropic, and Databricks. None trades publicly. There are nary expert terms targets, nary statement multiples, and nary shares to bargain successful a brokerage account. What exists are prediction-market likelihood connected whether and erstwhile each institution lists, caller backstage backing marks, and factual filing activity. Stacking those information points produces a wide hierarchy of near-term IPO conviction, with 1 of these 3 acold up of the different two.

We fertile from lowest condemnation to highest, closing connected the sanction the marketplace believes is astir apt to database first.

3. Anduril: Strong Demand, Low IPO Conviction

Anduril ranks astatine the bottommost of the IPO-conviction stack contempt roaring fundamentals crossed the defense-tech sector. Kalshi traders person priced a 2027 listing astatine astir 7% Yes, signaling that adjacent with dependable reports of capitalist interest, a near-term nationalist debut looks unlikely. Management has not filed a draught registration statement, and determination is nary nationalist underwriting syndicate.

The closest listed proxy is Palantir Technologies (NASDAQ: PLTR), which shares Anduril's defense-AI lawsuit base. Palantir's Q1 2026 U.S. authorities gross grew 84% twelvemonth implicit twelvemonth to $687 million. It said U.S. commercialized gross jumped 133% to $595 million. CEO Alex Karp noted that "Palantir's Rule of 40 people has soared to 145%. We person shattered the metric, a feat matched lone by different chap AI infrastructure companies: NVIDIA, Micron and SK hynix." Palantir trades astatine a steep 193x trailing net multiple, suggesting nationalist markets would invited an Anduril listing. The institution simply has not signaled it is coming.

2. Databricks: Higher Odds, Same Holding Pattern

Databricks tops Anduril connected prediction-market conviction, with Kalshi pricing a 2027 IPO astatine astir 41% Yes. The information and AI level has agelong been rumored arsenic a candidate. Yet nary confidential S-1 has surfaced, and the institution has continued to rise ample backstage rounds alternatively than prosecute the nationalist route. Its CEO called 2026 a "terrible twelvemonth to spell public," citing monolithic marketplace debuts from OpenAI, Anthropic, and SpaceX that are monopolizing organization capital.