Investors should track these five firms in Q4 2026

A record-breaking IPO, a memory stock that has gained 277% in 2026, and an Ethereum treasury approaching 5% of the supply will shape the final months of the year. These five firms, spanning AI and crypto, hold the narratives that investors will track until the year ends.

1. Anthropic

Anthropic, the developer of Claude AI, has submitted its IPO filing in the United States following a funding round that valued it at $965 billion. Its prospectus recently provided investors with a view of the financial details.

• Revenue had grown twelvefold to about $4.6 billion by late 2025.
• Its net loss also rose to $42 billion.
• Anthropic plans to spend $518 billion on computing infrastructure over the next ten years.
• One-quarter of its revenue is derived from just two unidentified clients.

Anthropic is expected to become the largest and most eagerly awaited IPO ever on the stock market. Yet the risks are considerable. The entire financial outlook of the company depends on the trajectory and perception of AI development over the coming decade.

BREAKING: Anthropic is seeking to IPO as soon as the middle of November, per Bloomberg.

The company could start formal marketing for its IPO as soon as the week of November 9th, putting it in-line to begin trading before Thanksgiving.

Anthropic’s valuation is now expected to…

— The Kobeissi Letter (@KobeissiLetter) October 1, 2026

Morgan Stanley, Goldman Sachs, JPMorgan and Citi are handling the offering. The intended valuation is approximately $2 trillion. That figure would surpass SpaceX's $1.77 trillion debut in June, making it the largest IPO ever.

2. Micron Technology

• The AI memory leader: Micron is the sole US manufacturer of high-bandwidth memory (HBM), a key part of AI accelerators.
• Stock momentum: Micron shares have climbed roughly 277% during 2026, ranking it among the year's top AI performers.
• Growth is still accelerating: Fiscal fourth-quarter revenue hit a record $54.23 billion, with DRAM revenue surging 343% to $39.8 billion.
• Key catalysts ahead: Share buybacks commence on December 9, and the next earnings report is anticipated in mid-to-late December.

Analysts on Wall Street have turned more optimistic. D.A. Davidson increased its price target to $2,100, Rosenblatt to $1,900, and Barclays held at $2,000. Goldman Sachs is more cautious, lifting its target to $1,250 while retaining a Hold rating. The broad spread of estimates indicates that expectations are elevated, making Micron's upcoming earnings release especially significant.

3. Nvidia

• The AI bellwether: Nvidia provides the accelerators that drive much of the AI infrastructure, so its performance often sets the direction for the sector.
• New record high: The stock reached an intraday record of roughly $237.83 on October 2 and finished at $233.95, gaining about 25% in 2026.
• Big quarter ahead: Fiscal third-quarter results are scheduled for November 17, with Nvidia forecasting approximately $108 billion in revenue.
• Wall Street sees more upside: Every analyst tracked rates Nvidia a Buy, with price targets from $275 to $400.

Wall Street stays strongly bullish. Bernstein holds the highest target at $400, then Rosenblatt at $390. Cantor Fitzgerald and Bank of America are at $350, with several large firms grouped around $300 to $325. Even Barclays, the most cautious among the tracked bulls, has a $275 target, which still suggests additional upside from current prices. Given that Nvidia is already near record levels, the November earnings will reveal if its growth can match those expectations.

4. Blockchain.com

• IPO before year-end: Blockchain.com submitted a confidential S-1 in May and aims to go public before 2026 ends.
• $4 billion to $6 billion valuation: Bloomberg reported the firm intends to raise roughly $500 million.
• A major valuation reset: The targeted range is significantly lower than the $14 billion valuation Blockchain.com achieved in 2022.
• A test for crypto IPOs: Its listing may indicate whether public markets are willing to support another major crypto firm following several poorly performing 2025 offerings.

Blockchain.com is presenting adjusted profits for each of the last three years to investors, a factor that may distinguish it in a challenging IPO environment. BeInCrypto earlier reported on the number of 2025 crypto listings that dropped below their offering prices, and Kraken postponed its own IPO to 2027. Additionally, Blockchain.com is broadening beyond its primary crypto operations, having signed a deal with the NYSE on September 23 to offer users tokenized US equities.

5. BitMine Immersion Technologies

• The biggest ETH treasury: BitMine holds the largest Ethereum treasury globally and has purchased ETH weekly since June 30, 2025.
• Almost at its 5% target: Its holdings surpassed 6 million ETH on September 27, representing about 4.9% of the supply and roughly 98% of the goal.
• Staking adds income: Approximately 84% of its ETH is staked, with annual staking revenue estimated at around $358 million.
• The key Q4 catalyst: BitMine requires roughly another 100,000 ETH to hit 5% of supply, a milestone that Tom Lee has predicted could occur before the end of the year.

The larger issue is what occurs after BitMine achieves that target. The firm has amassed its ETH stash largely via equity issuance, which subjects shareholders to dilution. That is significant because crypto treasury stocks have faced the same issue in 2026, with just four of the top 20 trading above the worth of their holdings.