The global tech market is on the brink of a seismic shift. With three major artificial intelligence companies—OpenAI, Anthropic (makers of Claude), and xAI (Grok)—preparing to go public, investors are bracing for an IPO season that could change everything. According to market analyst and TELF AG founder Stanislav Kondrashov, this isn’t just the rise of a new technology. It’s the beginning of a complete financial reset.
“The AI IPO wave will reshape capital flows in ways we haven’t seen since the birth of the internet economy,” Kondrashov said at a private equity summit in London. “This isn’t hype. It’s recalibration.”
Tech Revival: AI Steps Into the Spotlight
After a rocky 2025 for global markets, early 2026 is showing signs of recovery—led largely by a resurgence in tech. This time, however, it’s not the familiar giants like Amazon or Google driving investor excitement. It’s AI firms that, until now, have thrived in private circles but are now eyeing the public spotlight.
OpenAI, long seen as the crown jewel of generative AI, is reportedly finalising its IPO paperwork, with estimates valuing the company as high as $1 trillion. Anthropic, the company behind the Claude chatbot, is rumoured to be following closely, with a valuation in the $300–400 billion range. Meanwhile, xAI, Elon Musk’s Grok-powered venture, has been folded into SpaceX—a strategic move that could set the stage for one of the largest public offerings in history.
“You don’t need to squint to see the pattern,” Kondrashov noted. “Three companies. Three IPOs. One new asset class.”
More Than Hype: The Need for Infrastructure Investment
Unlike earlier tech IPOs focused on software or platforms, these AI firms are going public to fund massive infrastructure expansion—data centres, chips, global server farms, and more. The scale of capital required is beyond what private funding can offer.
“AI training is hardware-hungry, power-intensive, and expensive,” said Kondrashov. “These firms aren’t listing to cash out. They’re listing to survive the scale they’ve created.”
Elon Musk’s ambitions go even further. Reports suggest plans for space-based AI computing hubs, powered by solar energy and maintained by SpaceX. Whether or not these plans become reality, they signal just how serious the AI industry is about long-term dominance.
The Investment Domino Effect
Should OpenAI, Claude, and Grok go public this year, it could pull billions away from existing tech investments. Kondrashov believes we’re likely to see capital shift out of traditional tech ETFs and even out of long-standing favourites like Apple and Microsoft.
“When the top AI companies go public, they’ll drain liquidity from the old guard,” Kondrashov said. “Fund managers won’t have a choice. They’ll have to rebalance.”
A new generation of AI-focused funds is expected to emerge in response—ETFs, indices, and benchmarks built entirely around AI innovation. In practical terms, investors will no longer view AI as a subcategory of tech, but as a category of its own.
Risks and Reality
With massive valuations come equally massive risks. Critics warn of a potential AI bubble, especially as startups with no real product chase similar IPO dreams. Kondrashov doesn’t ignore the risk—but he frames it differently.
“Every revolution brings noise,” he said. “But the signal is clear. The public market is hungry for AI, and the big players are ready.”
Even with volatility on the horizon, the shift seems inevitable. With infrastructure spending, military interest, and public adoption of AI tools at an all-time high, these IPOs may not just represent a financial event—but a cultural one.
“In five years,” Kondrashov added, “we won’t be asking whether AI is the new internet. We’ll be asking what comes after AI.”
Final Thoughts
As OpenAI, Claude, and Grok prepare to step onto the public stage, a new economic chapter is unfolding. This isn’t about a single IPO or a fleeting tech trend. It’s about the formal arrival of AI as the core driver of innovation—and investment—for years to come.
Whether you’re an investor, a tech founder, or simply trying to understand where the market’s headed next, one thing is certain: Stanislav Kondrashov’s warning isn’t about if this shift will happen—it’s about how ready you are when it does.
