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stories 181–240 of 705IPO$1.21B nine-month revenue
Oura Heads Public With Rivals Circling the Finger
Oura's filing shows $1.21 billion of revenue in nine months and about 5 million paid members, but Ultrahuman, RingConn, Circular and Samsung are all shipping hardware into the category it created.
FOLLOW-UP
T3 Defense Files to List More Shares on Nasdaq
IPO
T3 Defense Files to List More Shares on Nasdaq
The Nasdaq-listed defense roll-up, formerly known as Nukkleus, filed a new S-1 as it keeps acquiring Israeli drone, AI-software and munitions-component suppliers into a holding structure built around Tier 2/3 defense programs.
DEEP DIVE
Anthropic's IPO Timeline Slides to Mid-October
IPO
Anthropic's IPO Timeline Slides to Mid-October
Anthropic's public S-1 filing has moved to late September and its investor roadshow to mid-October at the earliest, pushing a listing that could value the company at up to $2 trillion to just days before the November midterm elections.
FOLLOW-UP
Anthropic's IPO Marketing Slips to Mid-October
IPO
Anthropic's IPO Marketing Slips to Mid-October
Anthropic's IPO marketing has moved to no earlier than mid-October while its prospectus publication shifts to late September, with Morgan Stanley and Goldman Sachs leading a bank group that includes JPMorgan and Citi.
FOLLOW-UP
Twelve S-1 Filings in Two Days, Three of Them Blank Checks
IPO
Twelve S-1 Filings in Two Days, Three of Them Blank Checks
SEC filings from September 3 and 4 show five new S-1s and seven amendments, with acquisition corporations reappearing alongside a biotech and SoftBank's data center arm.
BY THE NUMBERS
SB Energy Amends S-1 for a $439B Backlog Listing
IPO$5B-$7B targeted raise
SB Energy Amends S-1 for a $439B Backlog Listing
SoftBank's data center and power arm filed an amended registration statement on September 4 as it moves toward a Nasdaq debut under SBE, with Nvidia committing $1.5 billion at the IPO price.
FOLLOW-UP
ADARx Files for Nasdaq Listing With Three Drugs in Clinic
IPO
ADARx Files for Nasdaq Listing With Three Drugs in Clinic
The siRNA biotech filed its S-1 on September 4 to trade as ADRX, with a pipeline spanning complement disease, hereditary angioedema and stroke prevention, and JPMorgan and Morgan Stanley leading.
DEEP DIVE
Three Outsiders Will Control Anthropic's Board After IPO
IPOUp to $2T valuation
Three Outsiders Will Control Anthropic's Board After IPO
Anthropic's Long-Term Benefit Trust holds no equity but can appoint a majority of directors, which makes its three trustees the most consequential unelected people in the largest listing ever attempted.
FOLLOW-UP
2026's IPO Count Hits 238 -- Busiest Since 2021
IPO
2026's IPO Count Hits 238 -- Busiest Since 2021
US IPO listings reached 238 through early September 2026, up 3.48% year-over-year, as AI infrastructure and consumer-hardware names crowd a market still dominated by a handful of mega-deals.
BY THE NUMBERS
This Week's IPO Pipeline Spans Four Sectors
IPO
This Week's IPO Pipeline Spans Four Sectors
Four IPO-track filings this week alone touch data-center power, wearables, a Hong Kong AI listing and defense, worth a combined $8.5 billion-plus in targeted and completed raises.
BY THE NUMBERS
Why AI Infrastructure Is Eating the IPO Market
IPO
Why AI Infrastructure Is Eating the IPO Market
The IPO market isn't rewarding software margins anymore -- it's rewarding physical AI infrastructure scarcity, and founders building point-solution software should stop assuming 2021-style multiples will return.
THE VC READ
One of Eight IPO Candidates Just Actually Filed
IPO
One of Eight IPO Candidates Just Actually Filed
Crunchbase named eight startups as 2026's clearest IPO candidates two days ago; since then, exactly one -- Oura -- has converted to an actual public S-1, while the other seven remain unfiled.
FOLLOW-UP
Why AI Infrastructure Beat AI Labs to the Public Markets
IPO
Why AI Infrastructure Beat AI Labs to the Public Markets
Crusoe is meeting IPO bankers and Oura just filed while OpenAI and Anthropic sit confidentially filed with no date -- I think that gap is permanent, and it tells you where the real underwriting risk in this cycle sits.
THE VC READ
2026's IPO Pops Are Fading Into Real Trading Ranges
IPO
2026's IPO Pops Are Fading Into Real Trading Ranges
Cerebras opened at $350 against a $185 IPO price and has since traded back near its offer price, while SpaceX climbed roughly 19% in a month on an Oppenheimer price-target raise -- proof first-day pops and durable value differ.
DEEP DIVE
Ten More Companies Filed to Go Public
IPO
Ten More Companies Filed to Go Public
A new wave of SEC registrations hit EDGAR on Sept. 3, led by Oura's blockbuster filing but including a defense-tech company near Nasdaq delisting and a going-concern cybersecurity filer trading under $1 a share.
FOLLOW-UP
Anthropic Locks In $15B Credit Line Ahead of IPO
IPO$15B Credit Facility
Anthropic Locks In $15B Credit Line Ahead of IPO
Anthropic is finalizing a $15 billion revolving credit facility, up from $2.5 billion, the clearest sign yet its IPO process has moved from confidential filing to active sequencing with banks.
FOLLOW-UP
Cerebras, Four Months Public: The Scorecard So Far
IPO
Cerebras, Four Months Public: The Scorecard So Far
Four months after the biggest chip IPO of 2026, Cerebras has swung from a 68% post-listing pop to earnings-driven volatility -- a reminder that day-one enthusiasm and quarterly execution are different tests entirely.
FOLLOW-UP
Crusoe Meets IPO Bankers Less Than a Year After $10B
IPO
Crusoe Meets IPO Bankers Less Than a Year After $10B
Crusoe has met with Goldman Sachs, Morgan Stanley, JPMorgan and Bank of America about a near-term IPO, the same week it reportedly closed a $3 billion round at $30 billion -- an unusually fast run from markup to public talks.
DEEP DIVE
Oura Files to Go Public at $16B-Plus
IPO$16B+ IPO valuation
Oura Files to Go Public at $16B-Plus
Oura filed publicly for a Nasdaq listing under the ticker OURA, disclosing revenue up 74% to $1.21 billion over nine months and 5 million paid members, in an offering that could raise as much as $3 billion.
FOLLOW-UP
Oura Files Public S-1, Revenue Up 74% to $1.2B
IPOTargeting $3B raise
Oura Files Public S-1, Revenue Up 74% to $1.2B
Oura filed its public S-1 for a Nasdaq listing under ticker OURA, disclosing $1.21 billion in nine-month revenue, up 74% year-over-year, as it targets a raise of up to $3 billion at a valuation above $16 billion.
DEEP DIVE
Oura Files for IPO, Targets Above $16B Valuation
IPO$3B target raise
Oura Files for IPO, Targets Above $16B Valuation
Oura filed publicly for a US IPO that could raise up to $3 billion and value the smart-ring maker above $16 billion, disclosing revenue up 74% alongside sharply wider losses.
FOLLOW-UP
T3 Defense Registers Shares After Its Drone Pivot
IPO
T3 Defense Registers Shares After Its Drone Pivot
T3 Defense, the Nasdaq-listed company formerly known as Nukkleus, filed a new resale registration tied to its acquisition of Israeli drone maker Nimbus, formalizing its pivot into unmanned defense systems.
DEEP DIVE
Anthropic and OpenAI's IPO Race Stays Confidential
IPO
Anthropic and OpenAI's IPO Race Stays Confidential
Both Anthropic and OpenAI remain in confidential SEC filing status months after submitting draft S-1s, with Anthropic valued near $965 billion and OpenAI targeting a $1 trillion-plus debut -- but neither has set a public date.
DEEP DIVE
What SpaceX's $1.77T IPO War Chest Is Buying
IPO
What SpaceX's $1.77T IPO War Chest Is Buying
Since its record $75 billion June IPO, SpaceX has used its newly public stock to fund an all-stock merger with xAI and a $60 billion acquisition of Cursor-maker Anysphere -- the most aggressive post-IPO acquisition spree of any 2026 debut.
DEEP DIVE
Moonshot AI Confidentially Files for $3B HK IPO
IPO$3B target raise
Moonshot AI Confidentially Files for $3B HK IPO
Moonshot AI, maker of the Kimi chatbot, confidentially filed to list on the Hong Kong Stock Exchange and is aiming to raise $3 billion, Reuters reported; the company has separately been valued at $50 billion in an ongoing private funding round, even as US officials weigh sanctions over its Nvidia chip use.
FOLLOW-UP
It Takes $25M to Get Into Anthropic's Cap Table
IPO
It Takes $25M to Get Into Anthropic's Cap Table
Secondary-market brokers say it now takes at least $25 million to access Anthropic shares at a roughly $1.4 trillion valuation, versus as little as $500,000 to $1 million for OpenAI, reflecting scarce supply.
DEEP DIVE
Shein's Hong Kong Debut Keeps Sliding
IPO$1.74B IPO, -13.5% since
Shein's Hong Kong Debut Keeps Sliding
Shein shares fell for a third straight session in Hong Kong, down roughly 13.5% from their IPO price after a $1.74 billion listing valued the fast-fashion giant 70% below its private peak.
DEEP DIVE
Olympus-Backed Accelevation Files for an $800M IPO
IPO$800M target raise
Olympus-Backed Accelevation Files for an $800M IPO
Accelevation Holdings, an Olympus Partners-backed maker of data-center power distribution equipment, filed to raise up to $800 million as revenue more than doubled to $448 million.
DEEP DIVE
OpenAI and Anthropic Race to List Without Breaking Safety
IPO
OpenAI and Anthropic Race to List Without Breaking Safety
Both labs have confidentially filed with the SEC and both spent the past week publicly disclosing safety failures, setting up the hardest question in their prospectuses: how to price a company whose main risk factor is its own product.
FOLLOW-UP
Eight Startups Racing a Closing 2026 IPO Window
IPO
Eight Startups Racing a Closing 2026 IPO Window
Crunchbase identified eight startups -- including Anthropic, Oura, Notion, Kraken and SambaNova -- as candidates for a narrowing 2026 IPO window, with SpaceX's record June listing as the template.
DEEP DIVE
Twelve Companies Filed to Go Public in Forty-Eight Hours
IPO
Twelve Companies Filed to Go Public in Forty-Eight Hours
Between Aug. 31 and Sept. 1, twelve registration statements hit EDGAR spanning AI power infrastructure, beauty, menswear, edge silicon, property software and a SPAC -- one of the densest filing stretches of the year.
FOLLOW-UP
Why This Week's Real IPO Story Is Old Economy, Not AI
IPO
Why This Week's Real IPO Story Is Old Economy, Not AI
Four S-1s hit this week -- a beauty conglomerate, a profitable proptech, an edge-AI chipmaker whose revenue is mostly microphones, and a menswear retailer -- and none of them are the AI mega-caps everyone's actually watching this fall.
THE VC READ
Unacademy Sells for $206M After a $3.4B Peak
IPO$206M all-stock
Unacademy Sells for $206M After a $3.4B Peak
upGrad closed its all-stock purchase of Unacademy on Sept. 1 at about $206 million, roughly 94% below the $3.44 billion valuation SoftBank, Tiger Global and General Atlantic backed in 2021.
DEEP DIVE
Why I'm Wary of OpenAI's Circular Financing Web
IPO
Why I'm Wary of OpenAI's Circular Financing Web
OpenAI's expanding financial ties to SB Energy -- as tenant, investor and warrant holder -- raise questions about how much of AI infrastructure's 'market price' is actually set by related parties.
THE VC READ
SB Energy Files IPO, Warns It's Tied to OpenAI
IPO$5-7B target raise
SB Energy Files IPO, Warns It's Tied to OpenAI
SoftBank-backed SB Energy filed for a US IPO warning investors it is substantially dependent on OpenAI, which is both its largest tenant and an equity holder.
DEEP DIVE
Entrata Refiles Its S-1, Betting Software IPOs Are Back
IPO~$500M est. raise (Renaissance Capital)
Entrata Refiles Its S-1, Betting Software IPOs Are Back
Entrata amended its S-1 pitching a rare combination for a 2026 IPO candidate: $575M ARR growing 23%, GAAP operating profitability, and 117% net retention -- a direct test of investor appetite for software this year.
DEEP DIVE
KKR-Backed Wella Files for a NYSE Listing as 'WELA'
IPO$2.9B FY26 revenue
KKR-Backed Wella Files for a NYSE Listing as 'WELA'
Wella, the KKR-backed owner of Clairol and OPI, filed for a US IPO on the NYSE with $2.9 billion in fiscal 2026 revenue, six years after being carved out of Coty in a deal that valued the business at $4.3 billion.
DEEP DIVE
Shein's Hong Kong Debut Falls 9% on Trade Worries
IPO$26.5B IPO valuation
Shein's Hong Kong Debut Falls 9% on Trade Worries
Shein began trading in Hong Kong at a $26.5 billion valuation -- a fraction of its 2022 private mark -- and closed its first day down about 9% on trade and regulatory concerns.
DEEP DIVE
Oura's $16B IPO Bet: Can a Wearable Price Like Software?
IPO$16B+ target valuation
Oura's $16B IPO Bet: Can a Wearable Price Like Software?
Oura is targeting a US IPO that could raise up to $3 billion at a valuation above $16 billion -- a 45% jump from last September's mark, riding revenue that's gone from $500M to a projected $2B in two years.
DEEP DIVE
What SpaceX's Record IPO Means for What's Next
IPO
What SpaceX's Record IPO Means for What's Next
SpaceX's June IPO priced at a $1.77 trillion valuation, the largest in history -- and the fall pipeline behind it, from Anthropic to DeepSeek to Kakao Mobility, is the real test of whether that was a ceiling or a floor.
BY THE NUMBERS
Tailored Brands Refiles IPO, Plots 500 New Men's Wearhouse Stores
IPO$681.8M quarterly revenue
Tailored Brands Refiles IPO, Plots 500 New Men's Wearhouse Stores
Tailored Brands, owner of Men's Wearhouse and Jos. A. Bank, amended its IPO filing with $681.8 million in quarterly revenue and plans to fund a 500-store expansion -- a bet that brick-and-mortar menswear retail still has room to grow.
DEEP DIVE
Syntiant's 'Edge AI' IPO Pitch Is Mostly a Microphone Business
IPO~$300M target IPO
Syntiant's 'Edge AI' IPO Pitch Is Mostly a Microphone Business
Syntiant is pitching investors on a roughly $300M edge-AI chip IPO, but about 95% of its most recent quarterly revenue actually comes from a sensor business -- mostly microphones -- it acquired in 2024, not from AI chip sales.
DEEP DIVE
Why Anthropic's IPO Is Shaping Up as AI's Biggest Test
IPO~$965B valuation
Why Anthropic's IPO Is Shaping Up as AI's Biggest Test
Anthropic's revenue run-rate hit $65 billion in July and its S-1 is filed ahead of a post-Labor-Day reveal -- here's what has to hold up for its reported ~$965 billion valuation to survive public markets.
DEEP DIVE
DeepSeek's Road to a 2027 IPO Looks Nothing Like Anthropic's
IPO$7.4B round target
DeepSeek's Road to a 2027 IPO Looks Nothing Like Anthropic's
DeepSeek is trying to close a second $7.4 billion round at a $74 billion valuation ahead of a targeted 2027 Shanghai listing -- a governance structure with almost nothing in common with Anthropic's path.
DEEP DIVE
Salesforce's $5.1B Anthropic Stake Prices Strategic AI Bets
IPO$5.1B stake value
Salesforce's $5.1B Anthropic Stake Prices Strategic AI Bets
Salesforce's stock jumped as much as 23% on its own earnings this week, and its Anthropic stake gained $2.6 billion in the process -- the clearest market-priced signal yet of what a strategic bet on a frontier lab is actually worth.
DEEP DIVE
Nscale's $51 Billion Number Isn't What It Looks Like
IPO$51B contracted
Nscale's $51 Billion Number Isn't What It Looks Like
Nscale is telling IPO investors it has $51 billion in contracted revenue -- but that figure counts multi-year compute deals the moment they're signed, and the company's actual annualized run-rate is closer to $400-500 million.
DEEP DIVE
Kakao Mobility's Bet on a US Listing
IPO~$1B target listing
Kakao Mobility's Bet on a US Listing
Kakao Mobility filed confidential US IPO paperwork targeting roughly a $1 billion listing, with TPG seeking an exit -- a rare instance of a Korean tech company choosing Wall Street over its home exchange.
DEEP DIVE
Why I'm Skeptical of the 'IPO Window Is Open' Story
IPO
Why I'm Skeptical of the 'IPO Window Is Open' Story
Everyone's calling this the best IPO market in years, and the aggregate numbers back that up -- but Monday's tape and Lyntris's soft debut are the two data points the bulls keep leaving out.
THE VC READ
New Fed Chair Warsh Rattles Markets on Inflation
IPO
New Fed Chair Warsh Rattles Markets on Inflation
Kevin Warsh used his first Jackson Hole speech as Fed chair to warn that underlying inflation trends haven't improved, pulling stocks off their Nvidia- and Salesforce-fueled rally.
DEEP DIVE
Amaero Files to List on Nasdaq as Defense Metals Maker
IPO
Amaero Files to List on Nasdaq as Defense Metals Maker
Amaero Inc., which makes high-purity metal powders for hypersonic weapons, satellite propulsion and aerospace 3D printing, publicly filed its S-1 to list on Nasdaq under the ticker AMRO, six weeks after confidentially submitting the draft registration.
DEEP DIVE
This Week's S-1 Filings by the Numbers
IPO
This Week's S-1 Filings by the Numbers
At least nine companies filed S-1 paperwork with the SEC this week, part of a pace that has produced roughly 39 US IPO pricings in the last five trading days alone.
BY THE NUMBERS
CrowdStrike CEO: Legacy Security Can't See AI Attacks
IPO
CrowdStrike CEO: Legacy Security Can't See AI Attacks
George Kurtz argued that AI-driven attacks expose gaps legacy security tools were never built to cover, as CrowdStrike positions its platform against a threat model that now moves at machine speed.
DEEP DIVE
Exascale Labs Goes Public via SPAC as XLAB
IPO~$300M pipeline
Exascale Labs Goes Public via SPAC as XLAB
Exascale Labs completed its SPAC merger with D. Boral ARC Acquisition and began trading on Nasdaq as XLAB, giving the AI compute infrastructure company a public listing and a reported $300 million customer pipeline.
DEEP DIVE
Space Startups Have Raised $20.3B in 2026
IPO$20.3B YTD
Space Startups Have Raised $20.3B in 2026
Global venture funding to space and satellite startups reached $20.3 billion through August 2026, already the highest annual total on record, with U.S. companies taking roughly $12.7 billion of it.
BY THE NUMBERS
Affirm's GMV Hits $50B as Levchin Flags Gas Prices
IPO$14.1B quarterly GMV
Affirm's GMV Hits $50B as Levchin Flags Gas Prices
Affirm reported fiscal fourth-quarter GMV of $14.1 billion, up 36%, and $50.2 billion for the year, while CEO Max Levchin warned that high gasoline prices are squeezing U.S. shoppers.
DEEP DIVE
Marvell Guided to 50% Growth and Fell 6%
IPO-6% on the day
Marvell Guided to 50% Growth and Fell 6%
Marvell posted record revenue of $2.74 billion, up 37%, raised its fiscal 2028 target to about $18 billion, and the stock still dropped 6% -- a lesson in what AI multiples now require.
THE VC READ
GTA 6 Preview Breaks Streams, Lifts Take-Two
IPO
GTA 6 Preview Breaks Streams, Lifts Take-Two
Rockstar's 27-minute Grand Theft Auto VI preview premiered exclusively on Netflix and overwhelmed streaming platforms, pushing Take-Two shares higher as Morgan Stanley and JPMorgan reiterated bullish calls.
DEEP DIVE
Salesforce's Agentforce ARR Tops $1.5B as Benioff Silences Bears
IPO$1.5B Agentforce ARR
Salesforce's Agentforce ARR Tops $1.5B as Benioff Silences Bears
Salesforce posted $11.35 billion in quarterly revenue and said Agentforce annual recurring revenue passed $1.5 billion, up more than 240%, undercutting the argument that AI agents would erode seat-based software.
DEEP DIVE
This Week in S-1s: Eight Filings, Zero Unicorns
IPO
This Week in S-1s: Eight Filings, Zero Unicorns
Eight S-1 and S-1/A filings hit EDGAR between Aug. 26 and Aug. 27 -- a blank-check shell, a Reg A graduate, a convenience-store operator and a biotech among them, with no venture-scale technology company in the group.
BY THE NUMBERS
BlackBerry's Second Life Runs on QNX in Cars and Robots
IPO
BlackBerry's Second Life Runs on QNX in Cars and Robots
A decade after exiting handsets, BlackBerry is pitching its QNX embedded operating system as the safety-certified software layer for vehicles and, increasingly, robots.
DEEP DIVE