CNBC's Jim Cramer warned that a wave of massive IPOs and capital raises could threaten the rally, with $148 billion raised through IPOs so far this year. Anthropic has filed its IPO prospectus, and investors have long awaited public offerings from AI leaders including Anthropic and OpenAI. Cramer fears new share supply could outstrip investor demand, a dynamic similar to the dot-com boom, though he notes today's leading tech companies have real businesses. He also warned that fundraising by Meta, Alphabet, SpaceX and Oracle could draw money away from the S&P 500 and other stocks, even as corporate fundamentals remain strong. He said he is not calling a top, only that he does not like what he sees.
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IPOS&P 500AnthropicJim CramerQQQ
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Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/26/2026 | 712.11 |
| Change that session | +1.09% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/26/2026 | 765.22 |
| Change that session | +0.69% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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