While the idea of stock surpassing one trillion would have been far-fetched once, now there are several stocks with market caps of more than $1 trillion, some of which have surpassed $4 trillion. Three companies are currently expected to join Meta Platforms, Tesla, and Broadcom in the $1 trillion club.
Elon Musk’s SpaceX has recently confidentially filed for an IPO. The move puts SpaceX in a position to potentially outpace rivals like OpenAI and Anthropic in the race to tap public markets.
READ: SpaceX to pursue ‘one of the largest’ IPOs in 2026 (December 10, 2025)
Sources suggest the company may target a valuation of more than $1.75 trillion, making it one of the largest stock market listings ever. The filing follows SpaceX’s merger with Musk’s AI venture xAI in a deal that valued SpaceX at $1 trillion and xAI at $250 billion.
SpaceX is currently known for its reusable rockets, making launches more affordable. The company is also the parent of Starlink, a low-Earth-orbit satellite network that provides internet in areas that historically lacked reliable access to traditional web infrastructure. Starlink already has more than nine million users and more than 11,000 satellites in orbit, placing it ahead of competitors.
OpenAI is another major company that could be nearing an IPO. While an IPO hasn’t been confirmed, various media reports suggest the company could conduct one as soon as the 2026 fourth quarter.
According to the Motley Fool, given the company’s cash burn and infrastructure investment commitments of $1.4 trillion during the next eight years, it seems CEO Sam Altman will eventually have no choice but to take the company public. OpenAI recently closed a $122 billion financing round that included investors like Nvidia, Amazon, and SoftBank.
The Motley Fool report also says that reports could indicate OpenAI could raise another $100 billion in an IPO, valuing it at $1 trillion or more. However, it is hard to really know what OpenAI’s financials could look like down the line.
READ: Is Elon Musk trying to influence SpaceX’s valuation ahead of IPO (February 3, 2026)
OpenAI rival Anthropic is also set to go public this year, according to multiple reports — though this hasn’t been confirmed — and it too could surpass $1 trillion. Anthropic’s Claude has recently made a huge splash when it comes to agentic AI.
Reports suggest that Anthropic is now on a $30 billion annualized revenue run rate. In March, Claude Cowork’s app surpassed ChatGPT to get to the No. 1 ranking in Apple’s app store.
Anthropic’s valuation in the private market has reportedly surpassed $1 trillion on some trading platforms, ahead of OpenAI’s current valuation of about $850 billion.