纳斯达克（NDAQ.O）首席执行官周四表示，在一波宏观经济动荡迫使多家高知名度公司叫停上市计划后，首次公开募股（IPO）市场已适度降温。
Nasdaq (NDAQ.O) chief executive said on Thursday that initial public offerings market has softened modestly after a wave of macroeconomic turbulence forced several high-profile companies to slam the brakes on their public debuts.
在该交易所运营商的第三季度财报电话会上，首席执行官阿德娜·弗里德曼（Adena Friedman）指出，尽管长期项目储备依然非常稳健，但特定行业的高管们突然开始“重新评估其IPO的时机”。中东冲突升级引发战时能源冲击，重燃全球通胀担忧，导致美国联邦储备委员会（美联储）加息应对。
Speaking at the exchange operator's third-quarter earnings call, CEO Adena Friedman noted that while the long-term pipeline remains deeply robust, executives across specific sectors are suddenly "re-evaluating the timing of their IPOs." Escalating conflicts in the Middle East have triggered a wartime energy shock, reigniting global inflation fears, which led the US Federal Reserve to hike interest rates in response.
随着30年期美国国债收益率处于近二十年高位，飙升的资本成本极大地改变了潜在发行人的风险偏好。这一转变在过去两个月里实际上让IPO窗口期降温。
With the 30-year Treasury yield sitting at near two-decade highs, the surging cost of capital has dramatically altered the risk appetite of prospective issuers. This shift has effectively chilled the IPO window over the past two months.
9月，可穿戴健康科技公司Oura推迟了其原定的纳斯达克上市计划，理由是市场条件波动；核设备制造商Holtec Nuclear则因不利情绪冲击股票市场和核能板块，撤回了其原定的美国IPO申请。同一时期，众多其他公司也推迟了其发行计划。
In September, wearable health technology firm Oura postponed its planned Nasdaq debut, citing volatile market conditions, while nuclear equipment maker Holtec Nuclear withdrew its planned US IPO due to adverse sentiment impacting the equity markets and the nuclear sector. A host of other companies also delayed their offerings around the same time.
纳斯达克第三季度新上市公司总数降至167家，低于去年同期的205家。然而，首席执行官弗里德曼表示，该交易所的“上市项目储备依然稳健”，并已做好充分准备，支持准备进入公开市场的多元化公司群体。
Total new listings at Nasdaq fell to 167 in the third quarter, down from 205 last year. However, CEO Friedman said that the exchange's "listings pipeline remains robust" and that it is well positioned to support the diverse group of companies preparing to enter the public markets.
专注于IPO研究和ETF的机构Renaissance Capital的高级策略师马特·肯尼迪（Matt Kennedy）表示：“除非人工智能热情强势回归，否则我们预计2026年不会出现大幅反弹以实现收官。许多公司正在准备IPO以保留这一选择权，但越来越多公司将目标定在2027年。目前，2026年的IPO市场围绕Anthropic和生物技术板块展开。”
"Unless AI enthusiasm comes roaring back, we're not expecting a big rebound to close out 2026. Plenty of companies are preparing IPOs to give themselves that optionality, but more and more are penciling in 2027. At this point, the 2026 IPO market revolves around Anthropic and the biotech sector," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs.
交易所运营商周四公布的季度盈利超出预期。其股价在早盘交易中上涨6.7%。
The exchange operator beat estimates for quarterly earnings on Thursday. Its shares were up 6.7% in morning trading.