Nasdaq expects a significantly stronger year ahead for IPOs, led by $1bn+ listings as market confidence returns, according to its global head of listings.
📈 Key signals from 2025:
- $46.6bn raised on Nasdaq so far this year — more than double last year
- 22 major companies (including Walmart) switched from NYSE, adding $1.2 trillion in market value
- Total U.S. IPO fundraising up ~80% YoY to $74.7bn
Despite tariff-driven volatility and a government shutdown earlier in the year, IPO activity rebounded sharply in the second half, with names like Medline, CoreWeave and SailPoint successfully listing.
🔍 Why 2026 looks compelling
Nasdaq’s IPO pulse index points to improving fundamentals:
- Lower interest rates
- Strong equity valuations
- Rising investor and consumer confidence
The pipeline for mega IPOs is “robust”, with potential listings from SpaceX, Fannie Mae, Freddie Mac, and even OpenAI being discussed.
Add to that Nasdaq’s move toward 24-hour stock trading, and the message is clear:
👉 U.S. capital markets are preparing for scale, speed, and global demand.
For founders, sponsors, and late-stage investors, the IPO window is reopening — with size back in focus.