Record $251B+ equity issuance in 2026 H1 driven by AI; SpaceX, SK Hynix, Anthropic pipeline may pressure markets
AI buildout is fueling unprecedented equity issuance (beating 2021), with hyperscalers potentially shifting from debt to equity financing; massive private capital waiting for IPOs (SpaceX, SK Hynix $30B, Anthropic, CoreWeave) creates absorption risk — investors must rotate existing holdings to make space, pressuring secondary markets.