Mega IPOs set to test U.S. market depth despite volatility

Companies raised the most via share sales in Q1—the strongest Q1 proceeds since 2021—and dealmakers say mega-IPOs from SpaceX and OpenAI could raise tens of billions of dollars in the coming months. That potential issuance comes despite elevated volatility from the Iran war and a recent software-stock selloff, implying upside for capital markets but with notable geopolitical and sector risk.

Analysis

Companies raised the most via share sales in Q1—the strongest Q1 proceeds since 2021—and dealmakers say mega-IPOs from SpaceX and OpenAI could raise tens of billions of dollars in the coming months. That potential issuance comes despite elevated volatility from the Iran war and a recent software-stock selloff, implying upside for capital markets but with notable geopolitical and sector risk.