It’s gonna be interesting to see if this is the mid curve take or if CT has actually been battle tested to the point that it recognizes an exit liquidity set up when it sees it
The 2026 AI bubble is different from the 2000 Dot-com bubble in one simple way. Unlike 25 years ago, this time the companies utilized private credit to fund the bubble instead of public markets.
While the sudden IPO surge of 1999 triggered a near vertical move in markets, that vertical move this time was fueled with debt instead of stocks.
The 2026 IPOs are not designed to fuel the bubble, they're designed to provide the liquidity necessary so the wealthy, early investors can get out.
To summarize, while the 1999 IPOs marked the beginning of the vertical move in markets, the 2026 IPOs will market its end.