The IPO market may be showing early signs of life.
Reports indicate that Discord has officially filed for an initial public offering (IPO), working with Goldman Sachs and JPMorgan as lead advisers. Founded in 2015, Discord has grown into one of the world’s largest standalone social platforms, with more than 200 million monthly active users across voice, video, and text communication.
A private funding round in 2021 valued the company at roughly $15 billion, shortly after Discord declined a $12 billion acquisition offer from Microsoft. While details remain limited, its filing has renewed investor attention on a group of long-anticipated IPO candidates.
Who’s On the IPO Watchlist?
Several high-profile private companies could consider going public in 2026, particularly as capital needs rise alongside AI and infrastructure investments. Among the names investors are watching:
- OpenAI, reportedly valued near $500 billion in late 2025, may eventually turn to public markets to help fund significant computing and infrastructure commitments.
- Anthropic, a major AI competitor backed by Nvidia and Microsoft, has been valued as high as $350 billion in private markets.
- SpaceX, which Elon Musk has suggested could pursue an IPO as early as 2026, was recently valued near $800 billion in secondary transactions, with some estimates reaching even higher.
Why IPOs Matter Right Now
Despite these headline names, the IPO market remains selective. Venture-capital fundraising declined sharply in 2025, and many startups are choosing to stay private longer amid stricter public-market scrutiny and profitability expectations.
That’s why potential IPOs from companies like Discord, OpenAI, and SpaceX are closely watched. Successful listings could restore liquidity, reopen exit opportunities for investors, and inject momentum back into the venture capital ecosystem.
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