"You've probably heard of unicorns technology startups valued at more than $1bn but 2026 is shaping up to be the year of the hectocorn, with several US and European companies potentially floating on stock markets at valuations over $100bn (75bn). OpenAI, Anthropic, SpaceX and Stripe are among the big names said to be considering an initial public offering (IPO) this year."
"OpenAI The San Francisco-based company is synonymous with AI, having triggered a frenzy of public interest in the subject with the launch of the ChatGPT chatbot in November 2022. It is a loss-making business but has attracted investment from big names including Microsoft and the Japanese group SoftBank, and its valuation has boomed from $29bn in 2023 to $500bn last year. If OpenAI floats it could be valued at as much as $1tn, according to Reuters."
"Underpinning these numbers is a hope that demand for AI, and the transformative impact of its adoption by workplaces and individuals, more than pays back the multitrillion-dollar investment in the datacentres and computer chips that support it. OpenAI is committed to spending $1.4tn on such infrastructure over the next eight years, but must convince investors it can pay that back."
2026 is emerging as a potential year of 'hectocorns' as multiple US and European technology firms prepare for stock market listings at valuations above $100bn. Major names such as OpenAI, Anthropic, SpaceX and Stripe are among those reported to be considering IPOs. The outcome of these flotations could influence concerns about an AI-driven market bubble. Last year’s US federal shutdown and watchdog job cuts delayed some plans, and geopolitical tensions add volatility. Markets have nevertheless surged on the AI boom, while OpenAI has seen rapid valuation growth, remains loss-making, and plans significant infrastructure spending that must be justified to investors.
Read at www.theguardian.com
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