The IPOs We Most Want to Watch

An Anthropic listing would put public numbers behind Claude’s enterprise growth, enormous computing costs and the safety commitments that distinguish the company.

Stripe would bring a mature payments business to a market crowded with AI stories. We would read the growth and margins before the valuation headline.

A ByteDance prospectus would expose TikTok’s economics alongside the geopolitical risk attached to Chinese ownership of a global media platform.

No listing would attract more scrutiny of revenue quality, model costs, Microsoft dependence and governance. OpenAI’s prospectus might outshine its first trade.

Shein’s first public quarters will show whether supply-chain speed can outweigh tariff pressure, labor scrutiny and a valuation far below its peak.

Databricks could reveal what public investors will pay for data and AI infrastructure once cloud costs and stock compensation are fully visible.

Public reporting would test whether Revolut’s rapid international expansion has produced a disciplined global bank or merely a very busy financial app.

Canva would offer investors a profitable creative platform with a vast mainstream audience, not another company selling computing capacity to AI developers.

Discord has enormous engagement and unusually strong communities. An IPO would force it to explain how much of that affection can become durable revenue.

Quarterly disclosure would show how much of Kraken’s business survives quiet crypto markets, when trading volume and retail excitement inevitably fall.