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Upcoming tech IPOs in 2026 and beyond
IPO
Key takeaways:
- The most anticipated tech IPOs of 2026 and beyond include companies across AI, fintech, design software, defence technology, fitness and wearables, although listing plans and timing remain subject to change.
- Anthropic, OpenAI and Strava have confirmed confidential IPO filings, while Oura has filed publicly, set an estimated IPO price range and applied to list on Nasdaq under the ticker “OURA”. Other potential tech IPOs, including Databricks, Canva, Discord, Anduril, Revolut and Kraken, have less certain or longer-term timelines.
- Company-specific IPO plans vary considerably: Anthropic has been linked to a possible late-2026 listing, Canva has indicated 2027, Revolut has suggested 2028 or later, while several others have no announced date.
- Risks of investing in tech IPOs include high valuations, early share-price volatility, selling after lock-up periods, further funding needs, business and technology risks, and limited public reporting history or shareholder influence.
- Applying for tech IPO shares does not guarantee an allocation, even for eligible investors. Those who do not receive IPO shares may be able to buy after listing at the prevailing market price, which can differ from the offer price.
Note: The information in this article is current as of the publication date of 25 September 2026 and may change as the relevant IPOs progress. This article provides general information, not investment advice. Investing involves risk, including the loss of capital.
Many technology companies remain privately owned even as their products become part of everyday life and business. An initial public offering (IPO) can give a wider group of investors the opportunity to buy shares in these businesses when they enter the stock market. Among the upcoming tech IPOs attracting attention in 2026 and beyond, some companies have begun formal preparations, while others are considering a listing later on.
Technology companies with potential IPO plans
Interest in technology IPOs extends across businesses with very different products and customers, including artificial intelligence (AI), financial services, design software, defence technology and wearable devices.
Note: The companies below are illustrative rather than exhaustive, and IPO plans and timing may change over time.
| Company | Main business | IPO position | Timing |
|---|---|---|---|
| Anthropic | AI models and Claude | Confidential filing confirmed | Late 2026 reported; unconfirmed |
| OpenAI | ChatGPT and AI tools | Confidential filing confirmed | 2026 ruled out by CEO |
| Databricks | Business data and AI software | Potential listing; privately funded | No announced date |
| Strava | Fitness tracking and social networking | Confidential filing confirmed | No announced date |
| Canva | Design software | Co-founder has indicated 2027 | Indicative, not scheduled |
| Discord | Gaming communications | Confidential filing reported | No announced date |
| Anduril | Defence technology | Co-founder supports eventual listing | No announced date |
| Revolut | Digital financial services | Longer-term listing ambition | 2028 or later indicated |
| Kraken | Cryptocurrency exchange | Filing confirmed; pause reported | No firm timetable |
| Oura | Smart rings and memberships | Public registration field | No confirmed listing date |
The profiles below explain what each company does and what is known about its plans to go public:
Anthropic
Anthropic is an AI safety and research company and the developer of Claude, which supports coding, research and analysis through its apps and a platform businesses can use to build Claude into their software. On 1 June 2026, Anthropic submitted a confidential draft registration statement to the US Securities and Exchange Commission (SEC), the US securities regulator, for review ahead of a potential IPO. Confidential submission means the draft was not made public. A late-2026 listing remains a reported possibility, with no confirmed date. Public offering documents would allow investors to examine its revenue, risks and costs, including the computing infrastructure needed to develop and run Claude.
OpenAI
OpenAI is an AI research and deployment company behind ChatGPT. Its commercial services include ChatGPT subscriptions for individuals and organisations, as well as paid access to its AI models, which developers can incorporate into their own applications. Sustaining revenue from these services depends partly on retaining paying customers and encouraging continued use, making customer retention an important consideration in assessing the business. OpenAI announced a confidential registration filing in June, although chief executive Sam Altman subsequently ruled out a 2026 IPO.
Databricks
Databricks provides a data and AI platform that organisations use to manage information, analyse it and develop AI applications. Its role in helping businesses put AI into practical use makes a potential listing relevant to investors following corporate spending on the technology. In June 2026, chief executive Ali Ghodsi confirmed the intention to go public, explaining that a listing would give employees a market in which to sell their shares. However, he dismissed the idea of an IPO in 2026, placing Databricks among the longer-term prospects, with no listing date announced.
Strava
Strava operates a fitness platform that allows users to record workouts, analyse their performance and share activities with others. By February 2026, its community included more than 180 million users across over 185 countries. That month, the company confirmed a confidential registration filing with the SEC for a proposed IPO, although the timing remains subject to regulatory review and market conditions, with no firm listing date announced. A completed offering would give public investors access to a fitness technology business with an established international user base.
Canva
Canva’s design software helps individuals and organisations create presentations, marketing materials and other visual content. Co-founder Cliff Obrecht has indicated a possible IPO in 2027, explaining that the company wants to establish its new AI charging model before going public. The change involves charging customers for AI usage, which could affect how much they spend on Canva’s services. The proposed timing would allow investors to assess the business after that transition, although 2027 remains an expectation rather than a confirmed listing date.
Discord
Discord is a communications platform that connects gaming communities through voice, video and text. It is free to use, with an optional subscription offering enhanced streaming and customisation features. The platform had more than 200 million monthly active users in December 2025, giving it an established audience for those paid features. Against that background, a confidential IPO filing was reported in January 2026, although no listing date was confirmed. A public prospectus would help investors assess how much revenue Discord earns from its users and the costs of operating the platform.
Anduril
Anduril is a defence technology company specialising in artificial intelligence and autonomous systems, including drones that can perform tasks with limited human intervention. Co-founder Palmer Luckey has expressed an intention to take the company public, linking a listing to access to capital and larger government contracts. However, CEO Brian Schimpf said in July 2026 that Anduril was in no rush to pursue an IPO, explaining that a period of excessive market enthusiasm could be a poor time to go public.
Revolut
Revolut provides digital banking and financial services, allowing individuals and businesses to manage payments, exchange currencies, save and invest through its app. Its business reached 68.3 million retail customers and generated GBP 4.5 billion in revenue in 2025. As Revolut expands internationally, chief executive Nik Storonsky has indicated plans to take the company public no earlier than 2028, explaining that public ownership could strengthen its credibility as a bank. This places its potential IPO among the longer-term prospects, with no confirmed listing date.
Payward
Payward is the company behind Kraken, a cryptocurrency exchange that allows individuals and institutions to buy, sell and hold digital assets. Its plans to bring the business to public markets took a formal step in November 2025, when it confirmed a confidential IPO registration filing, shortly after raising USD 800 million at a USD 20 billion valuation. However, difficult market conditions subsequently delayed the offering. Following the pause reported in March 2026, subsequent reporting suggested the IPO could be delayed until 2027, although Payward has not confirmed a listing date.
Oura
Oura develops smart rings that track sleep, activity and physiological measures such as heart rate and body temperature. Its paid membership provides detailed analysis and personalised guidance through the Oura app, generating subscription revenue with its device sales. The company outlined this business in a public registration statement filed on 3 September 2026 ahead of a proposed IPO. An amended filing on 21 September 2026 gives an estimated IPO price range of USD 40–44 per share and states that Oura has applied to list on Nasdaq under the symbol “OURA”. The offering has not yet been completed, and the shares are not yet trading.
Risks of investing in tech IPOs
A technology company’s popularity can attract attention to its IPO, but the investment still carries risks, including the loss of capital. In addition to the price of the shares, relevant considerations include the business’s finances and the terms of the offering:
- High valuations. A share price that assumes years of rapid growth leaves investors exposed if results disappoint. A valuation from a private funding round reflects that transaction’s terms and does not establish what publicly traded shares will be worth.
- Early price swings. Newly listed shares can fluctuate sharply, particularly when relatively few are available to trade. Buying after an initial surge can mean paying substantially above the IPO price and suffering losses if demand fades.
- Selling after lock-up periods end. Employees, founders and early investors may agree not to sell their shares for a specified period after the IPO. These agreements are called lockups. When they expire, additional selling can put pressure on the share price, although a decline is not inevitable.
- Losses and further funding needs. Growing revenue does not guarantee profitability or sufficient cash to cover spending. A company may need additional borrowing or share issuance; issuing more shares can reduce existing investors’ percentage ownership.
- Business and technology risks. Competition, unsuccessful product launches and dependence on key customers or suppliers can undermine growth. Cyberattacks, regulatory changes and intellectual property disputes can also disrupt operations or increase costs.
- Limited information and shareholder influence. A newly listed company has little public reporting history to assess. Its share structure may also give founders greater voting power, limiting other shareholders’ influence over decisions.
Where a prospectus has been published, it provides information for assessing these risks, including the company’s financial position, intended use of IPO proceeds and voting arrangements. Reading the financial statements alongside the risk disclosures helps establish how it plans to fund its operations and how much control public shareholders would have.
Applying for tech IPO shares and buying after listing
Applying for IPO shares means requesting an allocation before exchange trading begins. Investors must submit their request within the offering’s application window and meet the eligibility requirements.
Application procedures vary between brokers and offerings, so investors need to check the relevant terms for the instructions and deadlines that apply to their request. These may include a requirement to confirm an initial expression of interest after the offer price is set.
At Saxo, IPO access is assessed case by case. When an offering is available to an eligible client, the main requirements are:
- Review the offering and eligibility conditions. The platform provides the prospectus and related documents, subscription deadline, price or price range, and subscription limits. Access can depend on residency, account type and client classification.
- Submit and confirm the subscription instruction. This is the request for shares entered through the platform’s IPO module. Sufficient settled cash, meaning funds cleared and available for use, is required. Funds may not be reserved immediately, so sufficient cash must remain available at allocation. Otherwise, Saxo cancels the request, and the allocation is lost.
- Check the allocation. The issuer or underwriting banks arranging the IPO determine allocations; Saxo does not influence their decisions. Applicants may receive all, some or none of the shares requested. The final allocation appears in the platform.
Allocated shares become tradable once they are booked into the client’s account and admitted to exchange trading. Saxo’s IPO participation guide explains these requirements.
Investors who do not participate in the offering can still buy shares after trading begins, provided their broker offers access to the stock and exchange. These purchases occur at market prices, which may be higher or lower than the IPO offer price.