The Hot Equity Trade Spreading Through the AI Boom
It’s shaping up to be a big year for equity capital markets bankers, between SpaceX’s record-breaking debut and already public companies issuing stock at a rapid clip. One often overlooked part of the market is also active, fueled in part by the capital demands of the AI boom. At-the-market offerings, a type of share sale by public companies that’s popular when prices are rising, are having a busy year—and more are lining up. Cloud provider IREN has authorized billions in fresh share...