Goldman Sachs: US stock IPOs are in cyclical recovery, far from the levels seen during the dot-com bubble

Goldman Sachs stated that in 2026, the U.S. IPO market has significantly rebounded, with around 50 companies completing IPOs and the total fundraising amount reaching approximately $120 billion. Goldman Sachs Chief U.S. Equity Strategist Ben Snider pointed out that this round of recovery is part of a normal cyclical rebound, driven by a wave of major companies going public and the demand for capital expenditures related to artificial intelligence. Currently, the market lacks the internet bubble and the extreme speculative issuances seen in 2021, and overall, it is closer to a structural recovery.