Energy IPOs raise $12.6 bn in H1 2025 — highest since dotcom bubble

Energy companies raised $12.6 billion through IPOs in the first half of 2025, the highest half-year total on record and the highest level since the dotcom bubble peak in late 1999, according to data firm Dealogic. The surge is driven by investors seeking exposure to the power-hungry AI data centre boom. The figure dwarfs the full-year 2025 total of $4.3 billion.