Anthropic’s Chances of Leading 2026 IPOs Fall to 28%

Anthropic is no longer widely expected to surpass SpaceX ($SPCX) as the largest IPO by market capitalization in 2026.
Markets now assign just a 28% chance of Anthropic becoming the year's largest IPO, down from a peak of 62%.
The shift comes amid reports that Anthropic could receive a "high junk" credit rating, while OpenAI has reportedly reduced its fundraising valuation target by $150 billion.
Anthropic is expected to go public this month.