AI-led boom in IPOs raises concerns about a bust

Global IPO activity in H1 2026 reached $194 billion, triple the same period in 2025, driven largely by AI firms. The $86 billion SpaceX listing alone accounted for nearly half of total proceeds, with top 10 IPOs heavily concentrated in the US Nasdaq. However, analysts warn the frenzy is concentrated in a few hot sectors like AI and tech, raising bubble concerns, liquidity drain risks, and noting that SpaceX shares have already slipped below their listing value since mid-July.