The Nasdaq exchange surpassed the New York Stock Exchange in U.S. listings during the first half of 2025 because of the successful IPOs from CoreWeave and Chime along with the revival of special purpose acquisition companies (SPACs).
The Nasdaq exchange achieved $21.3 billion in listings during the period through Dealogic data while the NYSE obtained $8.7 billion. Nasdaq received $9 billion from 79 traditional IPOs excluding SPACs while the NYSE received $7.8 billion from 15 IPOs.
The market experienced brief disruptions from President Donald Trump’s tariff measures in April but equity markets recovered in May which led to a strong increase in investor interest in growth-oriented listings.
The market experienced a promising start before facing significant volatility but quickly recovered according to Nasdaq President Nelson Griggs. The upcoming performance of new IPOs will determine whether the market will maintain its strong momentum throughout the fall period.
The Wall Street interest in tech and AI-related businesses has enabled Nasdaq to maintain its position as the leading exchange for growth stock listings. The NYSE maintains its position as the leading exchange for large established companies but will likely regain its position if market stability continues throughout the second half.
