Market analysts are forecasting a surge of AI initial public offerings (IPOs) in 2026, with major generative AI companies actively exploring listings that could reach hundreds of billions of dollars.

The prediction comes from EY’s latest Global IPO Trends report, which highlighted that 1,293 IPOs raised US$171.8bn (€147.7bn) in 2025, a 39% increase in proceeds year-on-year despite steady deal volumes.

Ireland marked a domestic milestone when Senus PLC, an environmental software provider, became the first company to list on Euronext Dublin’s Access/Access+ market, aimed at SMEs and scale-ups.

“After years without domestic IPO activity, targeted Government measures and Euronext Dublin’s simplified ‘springboard’ market have created a more practical pathway for early-stage businesses to go public,” said Fergal McAleavey, EY Ireland Corporate Finance Partner.

He added that 2026 could be pivotal globally. “With companies like SpaceX, OpenAI and Anthropic exploring IPOs – each capable of commanding tens if not hundreds of billions – the market could see one of the most significant cycles of large-cap technology listings in over a decade. Companies need to maintain strategic flexibility, tell a clear story about their business and make sure their foundations are strong.”

The EY data showed that the bulk of 2025 IPO activity was concentrated in the US, Hong Kong, and India, while Europe lagged behind, dominated by larger, family-owned industrial businesses.

In Ireland, recent departures from Euronext Dublin by Dalata, CRH, Flutter Entertainment and Smurfit Kappa prompted the launch of the Access Market, offering smaller companies an alternative channel to private equity or debt financing.

Discover how EY expects AI-led listings to reshape global capital markets and Ireland’s domestic IPO landscape in the full story.

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