IPO Reality: The Companies That Faltered and the Names Ready for 2026

Hello,

The 2025 initial public offering market was a tale of two markets: a welcome comeback year for new listings that instantly created clear winners and losers. While investors rewarded companies with an artificial intelligence or cryptocurrency narrative, the market harshly rejected consumer-facing companies and software firms lacking an AI-driven growth story.

This IPO bifurcation underscores a fundamental shift: a compelling AI strategy is no longer a bonus—it is the price of admission. Fintechs like Chime and traditional consumer giants faltered, proving that market sentiment is focused solely on the future of AI infrastructure and adoption.

We tasked Deep Research AI this market divide. The resulting report identifies the biggest underperformers among 2025's IPOs and details the high-profile candidates—from Canva to Revolut—to watch for in the critical 2026 pipeline.

To understand the full forces shaping the public market and gain unparalleled insights into the future of tech IPOs, you need The Information Pro. Take advantage of a special introductory rate of 25% off your Pro subscription.