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Market research · October 13, 2026

AI IPO Statistics: 2026 Report

By Darin ten Bruggencate, Founder, AI Industry Reviews

A group of AI companies has gone public on US stock exchanges since the start of 2024. How their shares have done shows how public investors are pricing AI businesses.

Our analysts studied those companies, through early October 2026. We measured how much they raised and how their shares traded from the first day through October 7, 2026. Twelve AI companies listed in that period, all on Nasdaq, and together they raised $85.82 billion. Their median first-day return was 26.3%, and their median return from IPO price to October 7, 2026 was 22.1%.

In the following sections, we list the AI IPOs since 2024, compare their first-day returns and returns since listing, and count IPO activity by year.

AI IPOs Since 2024

Before looking at returns, it helps to know the companies themselves. The AI Industry Reviews research team listed what each one sells, how much it raised and where its IPO price landed against the range it first set.

AI IPOs, January 2024 to October 2026

• The 12 offerings raised $85.82 billion in base offering size. SpaceX's $75.0 billion offering accounts for 87.4% of that total. The other 11 raised $10.82 billion combined.
• Five companies priced above the top of their first range: Cerebras, Astera Labs, Caris, HeartFlow and OneStream. Astera Labs, Cerebras, Caris and HeartFlow each raised their range in an amended filing before pricing.
• CoreWeave was the only company to price below its range, at $40.00 against $47.00 to $55.00.
• The median IPO price was 6.3% above the midpoint of the first range, across the 11 companies that set a range.
• For investors, AI IPOs have mostly priced strongly, though one deal dominates the dollars. SpaceX's $75.0 billion offering is 87.4% of the total raised, and the median IPO priced 6.3% above its range midpoint. Strong pricing is likely to encourage more AI companies to file.

AI IPO First-Day Returns

The first day of trading is when the wider market first puts its own price on a new company, and a big jump that day means the shares were sold for less than buyers were willing to pay.

AI IPO First-Day Trading, January 2024 to October 2026

• The median first-day return was 26.3%, and the average was 26.1%.
• Nine of the 12 companies closed their first day at or above the IPO price. Three closed below it.
• Cerebras opened at $350.00, 89.2% above its $185.00 IPO price, and closed at $311.07.
• WhiteFiber opened at $25.00, 47.1% above its $17.00 IPO price, and closed below the IPO price at $16.22.
• First-day gains have been large but unreliable. The median first-day return was 26.3%, but three of 12 closed below their IPO price. Buyers chasing first-day pops face real risk of early losses.

AI IPO Returns Since Listing

The return from the IPO price to the latest close shows how these companies have held up with public investors once the excitement of the first day passed.

AI IPO Returns Since Listing, as of October 7, 2026

• The median return from IPO price to October 7, 2026 was 22.1%. Seven companies were above their IPO price and five were below it.
• Astera Labs is up 961.8%, from $36.00 to $382.25.
• CoreWeave, the only company that priced below its range, is up 121.1%.
• Fermi had the third-highest first-day return at 54.9% and has the lowest return since IPO, down 81.1% to $3.97.
• Long-run returns vary far more than first-day results suggest. The median return since IPO is 22.1%, from Astera Labs up 961.8% to Fermi down 81.1%. Investors are likely to judge new AI listings more on business results than on early trading.

AI IPO Activity by Year

Counting the listings by year shows whether AI companies are coming to market more often and how much money each year's offerings raised.

AI IPOs by Year of Listing, January 2024 to October 2026

• 2025 had the most AI IPOs in the set, with six. 2026 has had three so far, but they raised $80.95 billion, led by SpaceX and the $5.55 billion Cerebras offering.
• Cerebras first filed to go public on September 30, 2024, and filed a new registration statement on April 17, 2026, before it listed in May 2026.
• AI IPOs are getting larger even as the count stays small. 2026 has had three IPOs raising $80.95 billion, against six in 2025. If more large private AI firms list, 2027 offerings are likely to be fewer but bigger.

What AI IPO Trends Mean for 2027 and Beyond

AI companies that have gone public since 2024 have had very different fortunes, and a strong first day of trading said little about how the stock did afterward. A few large offerings raised most of the money, so the market's picture of AI public offerings is shaped by a handful of names.

More large AI companies are likely to go public while markets stay open to them, especially in infrastructure. After the mixed results so far, investors may push harder on price and ask for clearer paths to profit before buying in. A sharp drop in AI stocks could close that window quickly.

So if you are thinking of buying shares in a new AI offering, judge the company on its business rather than its first-day jump, because early gains have not predicted later returns.