Massive AI IPOs are attracting significant global investment, indicating a shift away from cryptocurrency.
By James Van Straten|Edited by Omkar Godbole Jul 9, 2026, 9:31 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SK Hynix (TradingView)SummaryShow- SK Hynix is set to debut its IPO on July 10, aiming to raise approximately $24.5 billion, with demand exceeding supply by over seven times. Meanwhile, China's CXMT plans a $4.3 billion IPO in Shanghai shortly after.
- These significant AI offerings follow previous successful listings like SpaceX and Cerebras, emphasizing the trend of capital gravitating towards AI infrastructure, which detracts from crypto investments.
Artificial intelligence (AI) continues to dominate the investment landscape, attracting funds that might have otherwise been directed towards other financial sectors, including cryptocurrencies.
In line with this trend, SK Hynix (000660) is preparing for a major IPO on July 10, aiming to raise between $24.5 billion and $28 billion via the sale of 177.9 million American depositary receipts. Reports indicate this offering has been oversubscribed by more than seven times, as noted by Bloomberg.
Global long-only funds, sovereign wealth funds, and specialized tech investors, including firms like Baillie Gifford, Coatue Management, and Situational Awareness Partners, have expressed interest in purchasing shares worth up to $7 billion. The funds raised will be utilized to expand manufacturing capacity and acquire advanced chipmaking equipment to cater to the surging AI demand.
Following suit, China’s Changxin Memory Technologies (CXMT), the largest DRAM manufacturer in the country, is set to begin book building on July 15 for a Shanghai IPO valued at 29.5 billion yuan ($4.3 billion), with subscriptions starting the next day, according to Reuters.
This company, which has faced U.S. sanctions, plans to utilize the IPO proceeds to enhance its production lines and technology, following a remarkable first-quarter revenue increase to 50.8 billion yuan, marking a 700% year-on-year growth. Reports estimate that CXMT held about 7.7% of the global DRAM market last year.
These IPOs follow the recent launches of SpaceX (SPCX) and Cerebras (CBRS), which have sparked excitement in the semiconductor and memory sectors. Collectively, they highlight a trend where investors are channeling new funds into companies that provide the infrastructure for AI rather than into cryptocurrency assets.
Bitcoin BTC$62,886.81 has seen a decline of approximately 50% from its peak in October, now hovering around $63,000, as investors increasingly favor AI infrastructure investments over crypto assets.
The pipeline for future offerings remains promising.
Companies like OpenAI and Anthropic have been mentioned as potential candidates for valuations nearing $1 trillion. However, while there were expectations for IPOs this year, growing concerns about AI valuations and a slowdown in semiconductor stock performance may push these listings to 2027.
Nonetheless, a new series of AI mega offerings would likely continue to draw capital away from the cryptocurrency sector.
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SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls
SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
By CoinDesk ResearchJul 7, 2026Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
Why it matters:
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
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