US IPO Market Set to Shatter Records with $160B in Proceeds

Wall Street’s IPO drought is about to become a deluge. Goldman Sachs expects US equity offerings to surge to $160B in 2026 as long-delayed mega-names move closer to public debuts. That would mark the largest IPO proceeds year on record, with analysts also forecasting the number of listings to double to ~120 companies as firmer equity markets and looser financial conditions reignite dealmaking.

• Software and healthcare are set to dominate listings by volume, but total proceeds could swing from $80B to nearly $200B depending on whether the biggest private names actually go public.
• Twelve firms have already raised ~$5B via IPOs in 2026, including Forgent Power and Eikon Therapeutics, with Cerebras Systems also lining up.

The volatility wildcard: Goldman warns that early-year software stock volatility underscores serious valuation risks — especially concerning since software represents ~25% of the IPO backlog. The analysts noted, “Continued volatility in share prices and corporate confidence are the key macro risks to our forecast.” While the pipeline looks robust, execution hinges on steady markets and founder willingness to bite the public bullet.