IPOs will have a good year in 2026 with rate cuts and private company backlog: Saga Ventures' Nguyen

Market Overview - Medline's market debut marks a strong year for IPOs, the largest since 2021, with expectations for continued growth in 2026 [1] - The IPO market is anticipated to expand further, driven by high-profile companies like OpenAI, Anthropic, and SpaceX potentially raising significant capital [2][3] Private vs Public Markets - There is a discussion on whether private markets are more or less disciplined compared to public markets, especially given the high valuations seen in private fundraising [4] - The public market may experience a supply-demand dynamic where investors are eager to invest in new names due to a lack of exposure in recent years [5] AI Sector Growth - The AI sector is experiencing remarkable growth, with OpenAI reporting 800 million users and one million businesses utilizing its services, indicating a strong trajectory for AI-native companies [6][7] - Concerns exist regarding the market's ability to absorb a large influx of new issuances from major companies, which could lead to volatility [7] Future of AI Companies - The industry is still in the early stages of development for transformer-style language model companies, with significant infrastructure investments being made, such as Nvidia's $100 billion data center project [9][10] - The concept of "agentic internet" is emerging, where AI agents could autonomously make purchases based on user preferences, indicating a shift in consumer interaction with technology [11]