AnalytixInsight

Last week, Dow Jones rose 2.1%, S&P 500 gained 0.9%, Nasdaq composite was up 0.45%, all indices very close to record highs. Against this backdrop, high profile IPOs appear to be ready to come to market. After years of massive and numerous private rounds, and being welcomed by changing index inclusion and weighting rules, investors need to balance potential upside, while avoiding being “exit liquidity”. Wall Street is bracing for an IPO wave after Cerebras’ semiconductor debut raised US$6.4 billion at a US$70 billion valuation. SpaceX tapped Goldman Sachs for its mid-June listing, alongside a US$60 billion deal to buy Cursor. OpenAI’s Sam Altman signaled a potential listing pause despite an imminent public filing, following the dismissal of Elon Musk’s lawsuit. Anthropic is targeting its first operating profit of US$559 million on US$10.9 billion in Q2 revenue while raising US$30 billion at a US$900 billion valuation, having just bought Stainless. Nvidia posted an 85% revenue surge to US$81.6 billion with US$48.6 billion in free cash flow, projecting 95% growth next quarter. Meta began cutting 8,000 jobs while moving 7,000 into Applied AI. Intuit cut 17% of staff as growth slowed to 10%. Google and Blackstone will partner on a US$5 billion TPU cloud venture. IBM and the U.S. government announced a US$1 billion CHIPS-backed quantum foundry called Anderon. The Gates Foundation dumped its US$3 billion Microsoft stake. In Canada, Cohere acquired biopharma data startup Reliant AI. Telecom platform, Gaiia raised a US$40 million Series B, and Sagard launched a US$150 million AI fund. Xanadu struck a US$300 million synthetic ATM equity deal alongside an algorithmic QROM breakthrough. Quantum Bridge raised US$8 million and N49P hit a US$25 million first close for Fund IV. Backlash is mounting to Bill C-22, the proposed Canadian legislation that would give law enforcement more power to surveil personal communications and data. In news pertaining to Sophic clients, Legend Power Systems announced $1.3 million in SmartGATE orders alongside Q2 revenue of $546 thousand, narrowing losses. Ionik secured a 30-day senior debt extension to June 25.