What Klaviyo, Instacart and Arm Earnings Mean for the IPO Market?

The most highly anticipated tech IPOs have struggled following their red-hot starts. What does that mean for the IPO market going forward?

Arm Holdings signage at Nasdaq during chipmaker's IPO
(Image credit: Michael Nagle/Bloomberg via Getty Images)

The market for initial public offerings (IPO) is heating up after being ice-cold for a lengthy stretch. According to Renaissance Capital, the 30 IPOs that launched in the third quarter of 2023 raised a collective $7.8 billion – more than the entire amount raised in all of 2022. 

The vast majority of these funds (63%) were brought in by Softbank-backed chipmaker Arm Holdings (ARM), which raised $4.9 billion in its highly anticipated IPO. Not only did this make the ARM IPO the biggest tech offering since 2019, but it also made it one of the biggest IPOs in U.S. history.

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.