The AI revolution needs more funding:
Net equity issuances are estimated to rise to ~$200 billion in 2026 and surge +500% YoY in 2027, to ~$1.2 trillion, according to JP Morgan.
This includes IPOs, secondary offerings, and other share sales after accounting for buybacks.
Combined, this would be the largest 2-year period of net stock issuance since at least the late 1990s.
This marks a sharp reversal from ~$12 trillion of shares repurchased in the previous 20 years, shrinking the available stock supply consistently each year.
The surge is being driven by SpaceX's, $SPCX, $85.7 billion IPO, the largest in history, alongside upcoming mega IPOs from OpenAI and Anthropic.
At the same time, Alphabet, $GOOGL, Meta, $META, and Oracle, $ORCL, are expected to raise hundreds of billions in secondary share offerings to fund their AI spending plans.
We are about to witness a historic wave of US equity issuance.
The post highlights a historic surge in net equity issuance expected in 2026-2027, driven by major AI-related IPOs (SpaceX $85.7B, OpenAI, Anthropic) and secondary offerings from tech giants (Alphabet, Meta, Oracle) to fund AI infrastructure. This represents a sharp reversal from two decades of net buybacks and is framed as a necessary capital influx for the AI revolution.
Alphabet is cited as expected to raise hundreds of billions in secondary offerings to fund AI spending. External data shows GOOGL up 1.06%, with news headline 'Alphabet is Raising $84.75 Billion to Win the AI Wars' directly corroborating the post's claim. Earnings upcoming July 21. The post frames this capital raise as necessary for AI competition, implicitly bullish on the long-term AI strategy despite dilution.
Meta is grouped with Alphabet and Oracle as expected to raise hundreds of billions for AI spending. External data shows META up 1.13%, with positive news on Threads reaching 500M users and AI monetization opportunities. Earnings July 28. The post's framing of secondary offerings as enabling AI investment is implicitly bullish on Meta's AI ambitions, consistent with current positive sentiment.
Oracle mentioned alongside Alphabet and Meta as expected to raise capital for AI spending. However, external data shows ORCL down 2.24%, with news headline 'Oracle shares plunge as soaring AI spending rattles investors' and 'Scared of Big Tech's AI Spending? Just Wait Until 2027.' This suggests market concern about the cost and dilution of AI spending, creating a disconnect between the post's framing (capital raise as positive enabler) and current market sentiment (concern over spending levels). Given this divergence and lack of specific bullish catalyst in the post beyond the general AI theme, stance is neutral with moderate confidence.
SpaceX IPO described as largest in history at $85.7B and a primary driver of the issuance surge. External data shows SPCX up 4.83% with market cap of $2.77T, surpassing Amazon per recent headlines. News describes meme stock dynamics and technical momentum, suggesting strong post-IPO performance aligns with the bullish framing of the IPO as a landmark event.
行情 $201.8 ▲4.8312%
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关键要点
Net equity issuance estimated to rise to ~$200B in 2026 and ~$1.2T in 2027 (+500% YoY), per JP Morgan
Largest 2-year issuance period since late 1990s, reversing ~$12T in buybacks over the previous 20 years
SpaceX's $85.7B IPO (largest in history) is a key driver, alongside upcoming OpenAI and Anthropic IPOs
Alphabet, Meta, and Oracle expected to raise hundreds of billions via secondary offerings for AI spending
Characterizes this as a historic wave of US equity issuance necessitated by AI investment needs
