A company valued at over $4 trillion doesn't usually see its stock price rise from IPOs of private companies it owns stakes in. That could change with Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL), which owns stakes in two of the largest private companies ever.

• Alphabet stock is under selling pressure. Why is GOOG stock trading lower?

Alphabet's Investments in Anthropic, SpaceX

The year 2026 could go down as one of the biggest ever for IPOs with both Anthropic and SpaceX among the companies that have filed to go public.

SpaceX could seek a valuation of $1.75 trillion or more with its IPO. Anthropic was recently valued at $965 billion in a private funding round and could be valued above $1 trillion in the public markets.

Those companies going public could allow long-time shareholder Alphabet the ability to cash out of its stakes, but perhaps more importantly for shareholders, the ability for the company to adjust its valuation for its stakes based ...