Global IPO markets see surge in capital driven by defense and AI

Global IPO markets saw significant activity in the first half of 2026, according to a report from EY. While the total number of listings, 509, was slightly lower than the same period last year, the capital raised reached a historic $193.6 billion, more than tripling previous figures. A major driver of this growth was SpaceX’s listing on Nasdaq, which raised $86.3 billion.

In Finland, the market experienced its strongest period in five years. June saw several companies enter the market, including Osuuskunta KPY, software firm Reaktor, and defense technology company Savox. Other notable entries included Aurora, Luoteas, and Easor through corporate arrangements.

Global trends in defense and artificial intelligence are also reflected in the Finnish market. Additionally, quantum computing company IQM Quantum Computers began trading in Helsinki following a SPAC listing in the United States. In Europe, IPO offerings increased by 8% compared to the previous year, with growth concentrated in large-scale primary listings rather than growth markets like First North.