IPO activity post-pandemic has fluctuated significantly, primarily driven by economic uncertainty, rising interest rates, and inflation, all of which have impacted investor sentiment.
The tide has shifted in a positive direction over the past few years, with several notable IPOs hitting the market, including CoreWeave CRWV and Circle Internet Group CRCL. The re-awakening of the IPO market is certainly notable, signaling renewed investor confidence and a meaningful shift in broader risk appetites.
But the biggest story surrounding the IPO landscape is, of course, none other than SpaceX.
SpaceX
SpaceX has officially filed its public S-1 prospectus with the SEC, setting the stage for the largest IPO in stock market history. Trading under the ticker SPCX, the company is targeting a historic valuation between $1.75 trillion and $2 trillion and aims to raise up to $75 billion in capital.
The public debut could happen as early as June 12th, so definitely expect it to remain one of the hottest market stories in the near-term. The company's Starlink satellite internet segment is its primary profit engine, with over 10 million subscribers.
Notably, SpaceX is aggressively transforming into an AI and infrastructure giant after absorbing Elon Musk’s AI startup xAI earlier this year. SpaceX spent billions on AI infrastructure in 2025, also partnering with Tesla TSLA on a chip-making project called ‘Terafab’ to build its own AI hardware.
CoreWeave & Circle Internet Group
CoreWeave is a high-performance cloud provider that gives companies easy access to thousands of world-class chips, enabling them to train complex models faster and cheaper without having to buy and manage the expensive hardware themselves.
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce, and financial applications worldwide. It’s the issuer of USDC, the world’s second-largest dollar-pegged stablecoin, widely used across exchanges, DeFi platforms, and institutional trading venues.
Bottom Line
Notable IPOs have finally started hitting the tape over the past few years, reflecting a meaningful shift in sentiment. For a deeper dive into the upcoming SpaceX IPO, please consider taking a look at our guide - SpaceX IPO 2026 Guide: Everything You Need to Know and Consider
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This article originally published on Zacks Investment Research (zacks.com).