The AI wave has hit the stock market too with a bang! As AI continues to reshape the world that we live in, there are a lot of startups that have stepped into the spotlight and are going public in India as well as the USA. From groundbreakers such as India’s Fractal, leading the charge as the first AI unicorn to announce its IPO, to U.S.-based CoreWeave, taking over the domain of cloud computing by storm, these companies have not only revolutionized technology but are on the verge of creating history. In this article, we explore the most anticipated AI IPOs, shining the spotlight on those startups deemed to redefine the future of AI at a global level.
As of December 2024, several AI startups are preparing for initial public offerings (IPOs) in India and the USA.
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Upcoming AI IPO in India and USA
By listing on BSE (Bombay Stock Exchange) and NASDAQ, the AI startup signaled its readiness to expand internationally and attract larger pools of capital. The decision also bolstered the startup’s credibility, offering new opportunities for collaboration, talent acquisition, and product development.
Notable Milestones
- Pre-IPO Funding: The startup earned support from venture capitalists and angel investors who believed in its mission.
- Regulatory Compliance: Teams navigated guidelines from SEBI (Securities and Exchange Board of India) and the SEC (Securities and Exchange Commission) in the United States.
- Investor Roadshows: Presentation tours in key markets such as Mumbai, Bengaluru, New York, and Silicon Valley provided a platform to showcase the startup’s potential and technological edge.
India
1. Fractal
- What They Do: Fractal is considered India’s first AI unicorn and a premier provider of advanced analytics and AI solutions. The company assists enterprises across the healthcare, retail, and financial sectors to optimize their business strategies through data analytics. Among its key AI solutions, it is possible to identify tools and platforms that help companies improve decision-making and analytics. Notably, recently the company also launched its own text-to-image generation model- Kaleidoscope which can generate accurate images with simple prompts.
- IPO Valuation: It is valued to be around $3.5 billion based on the IPO valuation.
- Expected IPO: The IPO is expected to occur in the first quarter of 2025 with the intention of utilizing the funds to enhance AI capabilities and grow the market penetration globally.
2. IdeaForge
- What They Do: A key player in AI-powered drone technology, IdeaForge is the go-to name in sectors like defense and industry. The company’s drones are widely renowned for their capabilities and are used for tasks such as mapping, surveillance, and logistics in fields like mining, agriculture, and security.
- IPO Valuation: IdeaForge went public successfully in July 2023, with shares debuting at a 94% premium over their issue price.
- Status: With the company already listed, IdeaForge’s IPO exemplifies the increasing demand for AI-driven drone solutions.
3. Table Space
- What They Do: Table Space leverages AI and IoT to optimize workspace design and utilization. It offers dynamic solutions that enhance productivity while reducing operational costs, making it a significant player in smart workspace management.
- IPO Valuation: Estimated at $2.5 billion or more.
- Expected IPO: Scheduled for 2025, targeting both Indian and international markets.
Also read: Top 20 Artificial Intelligence Stocks to Invest in 2025
USA
4. CoreWeave
- What They Do: Even though the company operates globally, they have a strong presence in India. CoreWeave supplies high-performance cloud computing services tailored for AI and machine learning workloads. It is particularly designed to handle large-scale AI applications, making it one of the key players in the AI infrastructure market.
- IPO Valuation: Global valuation estimated at $23 billion.
- Expected IPO: Planned for 2025 as part of the company’s broader global expansion strategy.
5. Cerebras Systems
- What They Do: This company specializes in producing AI chips. Cerebras Systems is widely renowned for its groundbreaking technology which is wafer-scale engine (WSE). Its hardware is used in advanced AI applications, including natural language processing, drug discovery, and autonomous systems.
- IPO Valuation: As of now there are no reports that suggest the expected valuation even though some reports suggest significant funding has been raised. Notably, its state-of-the-art technology places it as a strong contender in the AI hardware space.
- Expected IPO: Filed in September 2024, with plans to strengthen its footprint in the Indian AI ecosystem. The public debut of the IPO is expected to take place in early 2025 after its September 2024 filing.
6. SymphonyAI
- What They Do: SymphonyAI offers enterprise-grade AI solutions for industries like healthcare, retail, and manufacturing. Its tools focus on optimizing operations, enhancing customer experiences, and improving supply chain efficiency.
- IPO Valuation: Aim to achieve a $500 million revenue run rate before listing.
- Expected IPO: Planned for the second half of 2025.
7. Anthropic
- What They Do: Just like OpenAI, Anthropic focuses on the development of AI tools primarily giving importance to safety and ethics, ensuring that these AI systems align with human values and operate ethically and responsibly. The Anthropic is completely focused on addressing the ethical challenges posed by advanced AI systems.
- IPO Valuation: The current valuation is undisclosed but notably the company is backed by several private investments.
- Expected IPO: Speculated within the next 2-3 years as the company continues to grow at a staggering rate with its R&D efforts.
8. Cohere
- What They Do: Cohere is an AI company that specializes in Natural Language Processing (NLP) and provides AI solutions for tasks such as chatbots, conversational AI, and language models. This platform has been widely adopted over the years for empowering smart business applications.
- IPO Valuation: Notably, the company has raised significant funding, but as per reports its IPO valuation is yet to be revealed.
- Expected IPO: Industry experts expect an IPO filing in the upcoming years.
9. Stripe
- What do they do: Stripe, a payments giant in the US primarily, climbing up the ladder within the AI space recently. This financial services and software company provides payment processing software and application programming interfaces (APIs) for businesses to accept payments and manage their online businesses. Notably, stripe has also collaborated with OpenAI to launch GPT-4 across its platform. Since the founding of the company in the year 2009, it has been a potential IPO candidate. In August, Stripe welcomed Steffan Tomlinson – a former Google Cloud executive, to become its new Chief Financial Officer. Some of the key investors in Stripe include Lightspeed, Temasek, Andreessen Horowitz, and Sequoia.
- IPO valuation: As per reports their last known valuation stands at a staggering $50B.
- Expected IPO: Industry experts anticipate an IPO filing in the coming years with a 97% probability.
Also read: 7 Best AI Stock Market Software for Trading in 2025
Conclusion
These AI startups are shaping the future of technology across various domains, including analytics, AI hardware, cloud infrastructure, and ethical AI solutions. As they prepare for their IPOs, they not only offer exciting opportunities for investors but also redefine how technology integrates into everyday life.
Keep an eye out for these IPOs—they might just be the next big players in the tech industry!
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