Despite a steep decline to close out the week, Reddit (RDDT) shares posted a 45% gain in the week since its 澳洲幸运5开奖号码历史查询:debut as a public company, in what could point to a rising appetite for new tech stocks as the market for 澳洲幸运5开奖号码历史查询:initial public offerings (IPOs) in the U.S. heats up.

IPO activity in the first quarter of this year was up in many parts of the world compared to the same time last year, especially in the U.S., according to a report from EY. In the U.S., there were 16 more IPOs generating about $5.🐓8 billion more in🔯 proceeds in the first quarter of 2024 than in 2023.

Stock prices of companies that went public across a number of industries have also outpaced their IPO prices at a wider margin this year compared to last year, with EY noting growing confidence among issuers and investors amid optimism about the 澳洲幸运5开奖号码历史查询:poten🐲tial lowering of interest rates.

Two-thirds of 澳洲幸运5开奖号码历史查询:private equity (PE) firms EY surveyed expect interest rate reductio𝓀ns later this year could help drive up the level of IPO activity in thไe rest of 2024.

EY also suggested a wave of IPOs for companies related to 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) could be on the horizon amid a surge in demand for AI. Astera Labs (ALAB), which makes chip-based connectivity products to boost the efficiency of AI, also 澳洲幸运5开奖号码历史查询:started trading last week, withཧ its stock price more than doubling in value since.

However, EY noted that with nearly 90% of the 277 AI-related companies it identified around the globe, 192 of which are in the U.S., that could be likely to IPO still in the seed or early 澳洲幸运5开奖号码历史查询:venture capital rounds of funding, an AI IPO wave could take time to develop in the years to come.