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Source document· December 25, 2025

The 2025 IPO Comeback Tour

View original at nasdaq.com
The 2025 IPO Comeback Tour In this podcast, Motley Fool analysts Emily Flippen and Sanmeet Deo and contirubtor Jason Hall break down why the IPO market took off in 2025, which new listings may look like future Rule Breakers, and what investors should be keeping an eye on for new IPOs in 2026…
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What we drew from this source

The claims Via News extracted from this document. We point to the source; we don't replace it.

  • IPOs in the first half of 2025 were up more than 75% compared to 2024

    80% confidence

  • Figma is a top dog, first mover in AI-based collaborative design with a clear path to monetization

    80% confidence

  • If the AI bubble bursts in 2026, the IPO market will tighten and see fewer IPOs

    80% confidence

  • AI-related IPOs represented 43% of total IPO proceeds raised in 2025, approximately $16.5 billion out of $38 billion

    80% confidence

  • AI model builders raised nearly double what the entire IPO market did while staying private

    80% confidence

  • SpaceX going public will cause institutional investors to buy it to avoid career risk

    80% confidence

  • Bull markets beget more IPOs, and the economy has powered through despite uncertainty

    80% confidence

  • In general, he doesn't buy IPOs for about a year or two, and if he does, it's almost always a very small investment

    80% confidence

  • Many IPOs are exit strategies for existing investors rather than sources of new capital for businesses

    80% confidence

  • SpaceX IPO at $1.5 trillion valuation for a cash-burning business makes him more worried than excited

    80% confidence

  • IPO data shows that in general, IPOs tend to fall or stay similar in presidential election years, but increase in the year after elections

    80% confidence

  • SpaceX IPO will suck out the air in the room for smaller companies trying to go public at the same time

    80% confidence
What we know · the intelligence behind this page
Live from the substrate
What we're seeing
Enterprise Software Races to Govern and Consolidate Around Agentic AI
Enterprise software vendors are repositioning around autonomous AI agents. Salesforce is acquiring Braze, ServiceNow is launching agent governance tools (AI Passport, Super Intelligence Control Tower), SAP is pushing its 'Autonomous Enterprise', and Zeta is launching AthenaOS and its own inference model. Palantir is embedding itself in banking, aviation and sovereign AI infrastructure through partnerships with Customers Bank, Surf Air, Ondas and Armada. Governance, data sovereignty and enforced policy are emerging as preconditions for regulated sectors like finance. Investors such as Norwest see room to disrupt ERP and finance software, and they caution that AI should not be trusted with financial calculations. Consolidation and shareholder disputes (Salesforce/Braze, Tiny/Oso Cloud, ZenaTech/Boardwalktech) show the market reshaping.
Our read on the data ›
Signals we're tracking
EPKINLY Regulatory-Clinical Success Cascade
High probability of expanded label indications, additional combination approvals, and competitive positioning strength in follicular lymphoma market. Predicts positive commercial uptake and potential accelerated review for related indications.
Patterns we're watching ›
Where sources disagree
Ford Motor Company
Both facts give cash for Ford Motor Company at the same point in time (2025-12-31; FY 2025 year-end and Q4 2025 year-end are the same date). Both are labelled USD, but the values are 23,356,000,000 and 23.356, which cannot both be true in USD. The two numbers agree once the second is read as billions (23.356 bn = 23,356,000,000), so the economic content is consistent and the conflict is a unit/scale error in the Q4 2025 record. The period is not the reason for the conflict: a Q4 and an FY figure at the same year-end date should match.
We flag conflicts openly ›
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