In a First Trust webinar, IPOX® CEO Dr. Josef Schuster discussed the SpaceX IPO, strong new-listings activity, and IPOX®’s data-driven approach to tracking IPOs, spin-offs, de-SPACs, REITs, and select IPO M&A. Schuster addressed SpaceX’s expected low float, aftermarket risks, and broader opportunities across the IPO market. The webinar also highlighted the IPOX® 100 U.S. Index, its 20-year live track record, and its role as the underlying index for the First Trust US Equity Opportunity Index (Ticker FPX) today.

IPOX® Associate Muehlbauer commented in Reuters on Doncasters’ planned U.S. IPO, as the aerospace parts maker targets a valuation of up to $4.43 billion and seeks to raise as much as $746.7 million. Muehlbauer noted that aerospace and defense sector momentum could support strong pricing, especially for companies showing demand through government contracts, long-term agreements and backlogs. He also cautioned that investors will focus on whether Doncasters’ capacity investments can translate into profits as it remains loss-making during expansion.

IPO activity remains concentrated in the U.S., led by SpaceX, OpenAI, SK Hynix, Bending Spoons, and Kakao Mobility, while biotech names Parabilis and Kardigan show renewed sector momentum. Asia-Pacific listings focus on Hong Kong robotics, AI, parking technology, and an ASX gold spin-off. In MENA, Saudi offerings face weaker sentiment, with Arabian Dyar shelving plans and Mutlaq Al-Ghowairi withdrawing its $800 million IPO, despite Ninja testing appetite for a possible $1 billion deal. Overall, mega deals dominate investor attention globally now.

IPOX® CEO Josef Schuster was featured in Nikkei, commenting on SpaceX’s Nasdaq debut and its implications for future large IPOs. Schuster said the strong post-listing performance reflected robust demand and highlighted the depth of U.S. capital markets. The article also cited Jay Ritter, who cautioned that SpaceX’s high price-to-sales ratio and speculative growth areas could create downside risk. Schuster noted that news may drive shares short term, while fundamentals will become more important after earnings reports for investors and markets.

IPOX® Associate Lukas Muehlbauer was cited by Reuters on Kardigan’s planned U.S. IPO, which targets a valuation of up to $1.4 billion and aims to raise as much as $373.3 million. Muehlbauer noted a “clear uptick in biotech IPOs” and said healthcare IPO activity has already surpassed last year’s deal flow, signaling an open window for the sector. He also cautioned that investors remain selective, favoring companies with clinical progress and clearer paths to FDA approval.

IPOX® Associate Muehlbauer was interviewed for ZEIT ONLINE, the digital news platform of the German weekly newspaper DIE ZEIT, on the market impact of major planned IPOs and new share offerings. He discussed SpaceX’s expected $75 billion raise, possible listings from leading AI companies, and the challenge of absorbing significant new equity supply. He also noted that later insider sales may be the more important liquidity test for investors after the initial IPO.

IPOX® Associate Dr. Lukas Muehlbauer was quoted by Reuters on ERock’s NYSE debut after the gas generator maker’s shares opened below their IPO price, valuing the company at $5.49 billion. Muehlbauer said investors were pushing back on valuation amid execution risk, noting that ERock’s growth angle is tied to a substantial backlog from data center power demand, but the market wants proof that backlog can convert into revenue before assigning the company a more premium public-market valuation after its listing.

Bloomberg featured IPOX® Founder and CEO Josef Schuster in an interview with Matt Miller on “Bloomberg Deals,” titled “The Golden Age of IPOs is Here: IPOX’s Schuster.” The segment discussed SpaceX’s planned IPO, expected to raise about $75 billion and rank as the largest IPO ever. Schuster joined the program to provide IPOX®’s perspective on the broader IPO market and the current wave of major listings.

IPOX® Associate Lukas Muehlbauer was quoted by Reuters on Parabilis Medicines’ upsized U.S. IPO, which targets a valuation of nearly $2.3 billion as biotech listings regain momentum. Muehlbauer said the larger offering signals a healthier biotech IPO pipeline, while noting investors remain selective and favor larger, better-backed deals. He also highlighted Parabilis’ Regeneron partnership as an external validation of the company’s technology and a source of added credibility ahead of its expected Nasdaq debut under ticker PBLS.

IPOX® CEO Josef Schuster was featured in Reuters’ View article on OpenAI’s confidential U.S. IPO filing, which examined how major AI companies are moving toward public markets. Schuster commented that SpaceX, OpenAI, and Anthropic are seeking public-market capital to finance significant growth, while noting that investors may both reward and punish these companies as their fundamentals develop. He also highlighted that their offering size and initial float could make post-listing trading highly dynamic over time for investors and markets alike.

Global IPO activity is accelerating, led by SpaceX’s planned $75 billion Nasdaq debut and strong demand from Japanese retail investors. AI remains the dominant theme, with Anthropic confidentially filing, OpenAI advancing bank discussions, and ERock, INNIO and Quantinuum drawing investor attention across data-center power and frontier technology. Outside the U.S., Apotex may revive Toronto issuance, Bohus and Magnora expand Oslo listings, Go advances in Tokyo, Anker targets Hong Kong and CANAL+ strengthens its African market presence in Johannesburg this cycle.

IPOX® CEO Josef Schuster featured in Japan's largest business paper Nikkei on SpaceX’s planned mega IPO and its potential market impact. The article examines whether an offering of unprecedented scale could temporarily absorb capital, increase stock-specific volatility, and affect index rebalancing, while also attracting new investment over the longer term. Schuster noted that large IPOs can heighten individual-stock volatility and potentially ripple across broader markets, but that investors have limited precedent for an equity debut of this magnitude so far.

IPOX® Research Associate Lukas Muehlbauer commented on Innio’s Nasdaq debut in Reuters coverage of the gas engine maker’s upsized $2.43 billion IPO. Muehlbauer said the market backdrop is supportive for companies building the physical backbone of AI, as investors reward businesses tied to data-center power demand. He noted Innio’s established GE heritage and said the company must show equipment order growth can continue and translate into long-term service revenue for data centers requiring reliable power and maintenance over time globally.

IPOX® VP Kat Liu commented on Quantinuum’s Nasdaq debut in Reuters coverage of the Honeywell-backed quantum computing company’s upsized IPO. Liu said the investment case centers on quantum computing’s long-term role in future infrastructure, supported by its strategic relevance to national security, AI, communications and advanced computing. She also noted Quantinuum’s Honeywell backing and expansion into software, cybersecurity and quantum networking, while cautioning that commercial adoption remains limited and investors remain focused on the sector’s long-term opportunity.

IPOX® VP Kat Liu provided Reuters with market analysis on Anthropic’s confidential U.S. IPO filing, noting that the company is moving to capitalize on strong investor demand for AI and growth stocks while the listing window remains favorable. Reuters reported that Anthropic’s potential IPO could become one of the most consequential market debuts in years, with implications for benchmark indexes, investor flows and how public markets value frontier AI companies alongside SpaceX and OpenAI during a pivotal global listing cycle.

IPOX® Associate Muehlbauer was quoted in Reuters coverage on Quantinuum’s upsized U.S. IPO, which targets a valuation of up to $14.3 billion amid strong investor interest in quantum computing. Muehlbauer said the larger offering suggests robust institutional demand and reflects Quantinuum’s appeal as a scarce strategic asset, while noting that the valuation requires years of successful execution.