IPO pipeline heats up
Goldman's $160 billion estimate would beat the record $143 billion set in 2021. The bank's equity capital markets team cited strong demand from institutional investors for AI and technology names. OpenAI's September IPO is the most anticipated, with the ChatGPT maker looking to lock in a nine-figure valuation. SpaceX's potential listing would be the largest ever for a private company at that $1.75 trillion price. Anthropic's near-trillion-dollar valuation in its latest round shows investors are still pouring money into AI labs despite the broader market's rotation.
" Hungarian: "Felforrósodik az IPO-csatorna
A Goldman 160 milliárd dolláros becslése meghaladná a 2021-ben felállított 143 milliárd dolláros rekordot. A bank tőkepiaci csapata erős intézményi befektetői keresletet említett az AI- és technológiai nevek iránt. Az OpenAI szeptemberi IPO-ja a legjobban várt, a ChatGPT készítője egy kilenc számjegyű értékelést szeretne biztosítani. A SpaceX potenciális tőzsdei bevezetése lenne a legnagyobb valaha magáncég számára ezen az 1,75 billió dolláros áron. Az Anthropic majdnem billió dolláros értékelése a legutóbbi körben azt mutatja, hogy a befektetők továbbra is pénzt öntenek az AI-laborokba a szélesebb piaci rotáció ellenére.
" Note: "tőzsdei bevezetése" for "listing". "Rotáció" is fine. "Kilenc számjegyű" for "nine-figure" (hundreds of millions to billions? Actually nine-figure is hundreds of millions, but OpenAI valuation is much higher. Original says "nine-figure valuation" which is ambiguous - might be a mistake? Actually nine-figure is 100-999 million, but OpenAI is targeting $852B-$1T, which is far larger. Possibly a translation error? I'll keep as "kilenc számjegyű" but maybe it's wrong. Better to check: Original says "lock in a nine-figure valuation" - that seems inconsistent. Actually OpenAI is targeting a valuation of $852B-$1T, which is twelve figures (trillions). Could be a reporter error? I'll translate faithfully: "kilenc számjegyű" but note. However, to be accurate, perhaps it's a typo in the original? Since it says "nine-figure" but the numbers are trillions. I'll stick with literal translation as the requirement is to keep facts accurate. The original text says "nine-figure valuation" which is incorrect but we must maintain the exact meaning. So translate as "kilenc számjegyű értékelést". Third paragraph: "Crypto feels the pressure
The contrast with crypto is stark. Bitcoin's correlation with the Nasdaq 100 peaked at 0.87 in 2024 after institutional milestones like the ETF approvals, but that link has broken as AI stocks surged 170% over the past year while Bitcoin dropped 40%. BlackRock's IBIT, the largest spot Bitcoin ETF, recorded a $528 million single-day withdrawal on May 28, 2024 — one of the biggest outflows since the products launched. The first week of June 2024 saw $1.7 billion exit the ten US spot Bitcoin ETFs, suggesting investors rotated into equities.
" Hungarian: "Nyomás alatt a kripto
A kontraszt a kriptóval szemben éles. A Bitcoin korrelációja a Nasdaq 100-zal 0,87-en tetőzött 2024-ben az intézményi mérföldkövek, például az ETF-engedélyezések után, de ez a kapcsolat megszakadt, mivel az AI-részvények 170%-ot emelkedtek az elmúlt évben, míg a Bitcoin 40%-ot esett. A BlackRock IBIT-je, a legnagyobb spot Bitcoin ETF, 528 millió dolláros egynapos kivonást regisztrált 2024. május 28-án – az egyik legnagyobb kiáramlást a termékek bevezetése óta. 2024. június első hetében 1,7 milliárd dollár hagyta el a tíz amerikai spot Bitcoin ETF-et, ami arra utal, hogy a befektetők részvények felé fordultak.
" Note: "spot Bitcoin ETF" remains. "Nasdaq 100" stays. "korreláció" is fine. Fourth paragraph: "Liquidity on the sidelines
Roughly $8 trillion sits in US money market funds, a potential source of fuel for both the IPO wave and any crypto recovery. But so far, that cash has gravitated toward AI and semiconductor stocks rather than digital assets. The next test for Bitcoin will come as the IPO calendar fills up in the second half of 2026 and whether
