With the planned listing of SpaceX, OpenAI and Anthropic, 2026 could end up being a pivotal year for the initial public offer (IPO) market, driven by tech giants whose valuations could shatter all records.

Here is the ranking of the 10 largest IPOs on record, in terms of funds raised:

Saudi Aramco — the Saudi oil giant raised $25.6 billion on the Riyadh stock exchange in December 2019;

Alibaba — at $21.8 billion, the Chinese e-commerce giant made its debut on the New York Stock Exchange in September 2014;

SoftBank Corp. — $21.3 billion on the Tokyo Stock Exchange in December 2018;

AgBank — $19.2 billion. Chinese lender Agricultural Bank of China listed on the Shanghai and Hong Kong stock exchanges in July 2010;

ICBC — $19.1 billion. Another Chinese bank, Industrial and Commercial Bank of China (ICBC), also opted for Hong Kong and Shanghai in October 2006;

NTT Mobile — $18.1 billion. The Japanese mobile operator was listed on the Tokyo Stock Exchange in October 1998;

Visa Inc. — $17.9 billion. The American credit card network made its New York Stock Exchange debut in March 2008;

AIA Group — $17.8 billion. This Asian subsidiary of American insurer AIG arrived on the Hong Kong Stock Exchange in October 2010;

Enel — $16.5 billion. The Italian energy giant, whose shares trade in Milan and New York, made its stock market debut in November 1999; and

Facebook (now Meta) — $16.0 billion in New York in May 2012.