Nasdaq expects strong year ahead for billion-dollar IPOs in 2026

Nasdaq is predicting a strong start to 2026 for U.S. stock market listings, with several billion-dollar startups preparing to go public. The exchange sees growing investor confidence and a robust pipeline of high-value IPOs despite recent market volatility.

For the year through December 18, companies listing on Nasdaq have raised approximately $46.65 billion, more than double the same period last year. Nasdaq also benefited from 22 companies, including Walmart, transferring their listings from the New York Stock Exchange, representing a combined market value of roughly $1.2 trillion.

Despite market fluctuations caused by tariffs and the October government shutdown, Nasdaq expects a robust pipeline for IPOs exceeding $1 billion heading into 2026. U.S. IPOs have raised $74.7 billion year-to-date, up about 80% from last year, according to Dealogic data.

Jeff Thomas, Nasdaq’s Global Head of Listings, highlighted positive indicators for the market: “Our IPO pulse index, which tracks interest rates, valuations, investor sentiment, and consumer confidence, points in the right direction. We see a fast start to the year and strong optimism for the latter half of 2026.”

Several high-profile companies, including SpaceX, Fannie Mae, Freddie Mac, and potentially OpenAI, are expected to tap U.S. capital markets next year. Earlier this week, Nasdaq filed with regulators to launch round-the-clock stock trading, aiming to meet global demand for U.S. equities.