AI-related IPOs postponed as capital concentrates in top names
SoftBank's energy arm and Holtec delayed their IPOs while SoftBank's junk bond drew strong demand, showing AI financing appetite concentrating at the top.
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SoftBank's energy business and nuclear company Holtec have put off their IPOs after investors balked, according to New York Times reporting relayed by Semafor.
In the same week, SoftBank's junk bond offering to fund its OpenAI investment reportedly drew healthy demand. Financing appetite for first-order AI assets is diverging from smaller deals further down the chain.
Thoma Bravo's Orlando Bravo told Semafor that private equity is sitting on roughly $3.8 trillion of unsold companies, and that monster IPOs like SpaceX and Anthropic will crowd out smaller offerings. Details of the postponements await issuer announcements.