Forget the Anthropic IPO. Here Are 6 Stocks Worth Watching.

While many investors are focused on the upcoming Anthropic IPO, there are already publicly traded companies that show promise for growth. Here are six stocks worth keeping an eye on as they have the potential to double their market value by 2028.

IonQ, currently valued at around $12.5 billion, could reach $25 billion if its quantum computing technology gains commercial traction. They have around $2.1 billion in cash, providing enough runway for roughly four years. Investors should keep an eye on how quickly IonQ converts its remaining performance obligations into revenue.

Archer Aviation aims to revolutionize transportation with electric air taxis. To double its market value from $3.1 billion to over $6 billion, Archer must secure regulatory approval for its aircraft and achieve commercial success. The company has $1.6 billion in cash, which could last about two and a half years. However, dilution risk looms if R&D costs exceed funding.

AST SpaceMobile seeks to improve global connectivity through satellite networks. To reach a $32 billion market cap, the company must deploy a satellite network and generate revenue from carrier agreements. Currently valued at $15.8 billion, AST has $2.3 billion in cash, giving it about one year of runway. Dilution risk is a concern due to the substantial financing needed for satellite network development.

SoundHound AI leverages voice AI technology for business applications. To double its market cap from $2.1 billion to over $4 billion, SoundHound must win over more enterprise clients. The company has $202.8 million in cash, providing over a year and a half of runway. Monitoring the conversion of contracted business into revenue is crucial, as $37.3 million is expected within a year.

D-Wave Quantum is making strides in commercializing quantum computing technology. For the company to double its $4.5 billion market cap to over $9 billion, its technology must gain broader adoption. Currently, D-Wave holds $546.2 million in cash and marketable securities, providing nearly four years of runway. Watch for the growth of recurring cloud-access revenue and the conversion of its contracted business into revenue.

Redwire focuses on space and defense technology. To double its market cap from $2.1 billion to over $4 billion, Redwire must convert its $542.1 million backlog into strong revenue growth. With $557.7 million in cash and marketable securities, Redwire has an eight-year runway. While execution risks exist, the company's growing backlog and cash reserves make it a relatively safer investment option.