BNP Paribas's global head of tech equity capital markets argues that the $3.6 trillion US IPO pipeline from SpaceX, OpenAI, and Anthropic will generate spillover appetite for European tech listings. US investors at a recent Paris conference signalled growing interest in European companies. Several European firms are already moving toward public markets, including Bending Spoons, Monzo, IQM, and Helsing. However, barriers remain: limited analyst research coverage for emerging sectors like quantum computing and defence AI, fragmented European stock exchanges, and the risk that mega-IPOs absorb so much capital they crowd out smaller listings rather than encouraging them.
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The US pipelineThe European rippleEuropean tech is already movingWhat’s missingThe flags110 Impressions