SpaceX's June 2026 IPO, which priced at $135 per share to raise a record $75 billion and opened with a market capitalization exceeding $2.1 trillion, anchors trader consensus at 92.3% implied probability for the largest 2026 listing by market cap. The offering incorporated xAI's AI assets following its February acquisition, driving revenue growth from Starlink and positioning the combined entity ahead of peers on scale and execution. Other candidates such as Anthropic, targeting up to $64 billion in proceeds near a $1–1.5 trillion valuation in its pending November filing, or delayed OpenAI plans face substantially lower implied odds given narrower proceeds and later timelines. A realistic challenge would require an unanticipated post-IPO surge or another debut surpassing $2.1 trillion in first-day capitalization, though current filings and market conditions make this unlikely.