- The 2026 IPO pipeline is filling up with AI, biotech, fintech, and consumer companies, but there is an important difference between companies that have publicly filed, those that have filed confidentially, and those that are only preparing for a future listing.
The US IPO market is entering another busy stretch, with Oura, Nscale and Iambic Therapeutics among the companies that have publicly filed registration statements in September.
Other major private companies, including Anthropic, OpenAI and Altera, have taken steps toward an IPO through confidential filings. Banamex, Canva, Revolut and Databricks are further back in the process, with reported plans or preparations but no current public S-1 establishing an imminent offering.
A confidential filing is not the same thing as a public prospectus, while an IPO plan can still change or be delayed.
Which Companies Have Actually Filed to Go Public?
Oura Inc.
Oura is currently one of the most advanced names in the pipeline. The smart-ring company filed its initial S-1 on Sept. 3 and an amended registration statement on Sept. 21. It plans to sell 50 million shares at an indicated $40 to $44 range, implying proceeds of up to roughly $2.2 billion. The company has applied to list on Nasdaq under OURA.
Oura reported $1.21 billion in revenue for the nine months ended June 30, up 74% year over year, according to its filing. Wealthier Today previously covered the Oura IPO and its proposed $15.6 billion valuation.
Nscale
AI infrastructure company Nscale filed an S-1 with the SEC on Sept. 18. The company intends to list its ordinary shares on the New York Stock Exchange under NSCL. Its preliminary prospectus does not yet establish a final IPO price or share count.
Nscale has become one of the most closely watched AI infrastructure IPO candidates because its business is tied to the rapidly expanding demand for computing capacity.
Iambic Therapeutics
AI-driven biotechnology company Iambic Therapeutics filed its S-1 on Sept. 21 and has applied to list on Nasdaq under IAM. The company is developing medicines using an AI-based drug-discovery platform, with its lead candidate IAM1363 in early-stage clinical testing.
The company has raised roughly $462 million from investors including Nvidia Corp. (NASDAQ: NVDA), Qatar Investment Authority and other funds, according to Reuters. Iambic also has collaborations with AbbVie and several other pharmaceutical companies.
Companies That Have Filed Confidentially
Anthropic is one of the biggest names in the pipeline. The AI company confirmed in June that it had confidentially submitted an S-1 to the SEC. Reuters reported that the filing followed a financing round valuing Anthropic at $965 billion.
OpenAI also confirmed a confidential S-1 submission on June 8. The company explicitly said it had not decided when to go public, meaning the filing should not be treated as a confirmed 2026 IPO date. Wealthier Today has previously reported on OpenAI's $40 billion-plus revenue run rate and IPO preparations.
Altera, the semiconductor company majority-owned by Silver Lake, also confidentially filed for a US IPO in September, according to Reuters. The company has not publicly disclosed a final offering size or timetable.
Strava confidentially filed for an IPO earlier this year, according to Reuters, although its previously reported spring timetable did not materialize.
Kraken also confidentially filed in November 2025, but Reuters reported in March that the crypto exchange had put its IPO plans on hold while it assessed market conditions.
Banamex, Canva and Revolut Are IPO Candidates, But They Have Not Publicly Filed
Several other names belong on an IPO watchlist, but should not be described as companies that have already filed a public registration statement.
Banamex is one of the most advanced. Bloomberg reported Sept. 25 that Citigroup Inc. (NYSE: C) is targeting more than $3 billion for an IPO of Mexico's Grupo Financiero Banamex, potentially in January 2027. Citi, Bank of America Corp. (NYSE: BAC), Goldman Sachs Group Inc. (NYSE: GS) and JPMorgan Chase & Co. (NYSE: JPM) are working on the offering, according to people familiar with the matter.
Canva has been preparing for a potential 2027 listing. Recent hiring indicates the design-software company is strengthening its public-company infrastructure, although Canva has not announced a definitive IPO timetable.
Revolut is considering a future dual listing in New York and London. CEO Nik Storonsky said the company is considering both Nasdaq and the London Stock Exchange, with a potential IPO around 2028.
Databricks remains another major IPO candidate. Reuters reported in June that CEO Ali Ghodsi had indicated the company remained IPO-bound, potentially as soon as 2027, while the company was instead pursuing additional private funding.