Analysis
The 2026 US IPO count reached 238 through the first days of September, up 3.48% year over year and the highest year-to-date total since 2021, per StockAnalysis' 2026 IPO tracker. The concentration underneath it is the number worth carrying.
SpaceX's June listing raised $75 billion at a $1.77 trillion valuation -- the largest IPO ever, more than triple Alibaba's prior US record. Cerebras raised $5.5 billion in May at $185 a share. Those two deals together likely exceed the total proceeds of the remaining 236 listings.
“SpaceX's June listing raised $75 billion at a $1.77 trillion valuation -- the largest IPO ever, more than triple Alibaba's prior US record.”
Aftermarket behavior has diverged just as sharply:
- Cerebras opened at $350 against its $185 price, hit an all-time high of $386.34 on day one, fell to $160.81 by late June, and has settled around $185 to $190 -- a full round trip to the offer price, at roughly a $45 billion market cap.
- SpaceX priced at $135, closed day one near $161, and has ground higher since, trading around $150 in early September after Oppenheimer raised its target to $280 on Sept. 2. Pulse tracks the full path in our aftermarket scorecard.
- Unitree Robotics listed at roughly a $9 billion valuation and traded up about 460% on its first day.
Three listings, three completely different aftermarket shapes, and no consistent relationship between the size of the day-one pop and where the stock settled ninety days later. For issuers still choosing a fall date, that is the more useful history than the headline count: our IPO scorecard tracks the full set.
