Goldman Sachs says 2026 US IPO issuance nears $120 billion by midyear

About 50 listings have priced so far, with large deals and AI-related capital spending helping drive a cyclical rebound rather than a dot-com-style frenzy.

Summary

The US IPO market has mounted a strong recovery in 2026, with about 50 companies already listing, double the year-earlier pace, and raising about $120 billion, Goldman Sachs said. Ben Snider, Chief US equity strategist, said the rebound reflects a normal cyclical recovery led by larger listings and AI-related capital spending rather than a repeat of the 2000 dot-com bubble. While issuance value has surged, the revival still appears to be driven more by deal size and investor appetite for select offerings than by a broad-based jump in the number of companies going public.

Terms & Concepts
  • IPO: an initial public offering, when a company first sells shares to public investors
  • capital spending: money companies invest in long-term business assets, technology, or expansion
  • dot-com bubble: the late-1990s market boom and bust marked by excessive valuations for internet-related companies