Barclays analyst Venu Krishna says concerns that large tech IPOs will crowd out mega‑cap stocks are overblown.
An event‑study of US tech IPO waves (≥$100 million) finds no significant link to tech versus S&P 500 relative returns.
Barclays notes AI competitive dynamics, not new issue supply, remain the primary driver of sector performance.
Speculation about potential IPOs from OpenAI, Anthropic and SpaceX is fueling market chatter but not expected to affect capital allocation.