Nvidia-backed Iambic Therapeutics is seeking to raise up to $159.4 million in its U.S. IPO, targeting a valuation of up to $805.8 million. IPOX® Vice President Kat Liu told Reuters that Iambic’s value depends primarily on its drug pipeline and prospects for approval and commercialization. The company uses AI to develop cancer treatments and plans to list on Nasdaq as “IAM,” as biotech attracts investor interest despite rising Treasury yields, market volatility, and geopolitical tensions affecting the broader IPO market.

IPOX® VP Kat Liu was interviewed for Fortune on Oura’s decision to postpone its IPO, offering perspective on valuation concerns, deal structure, and investor expectations. Liu discussed how Oura’s positioning as either a digital-health platform or consumer hardware company could shape valuation views, while also noting the market signal created by a high proportion of secondary shares.

Reuters reports that Airtel Money is targeting a valuation of approximately $7 billion in its London IPO, which could become the city’s largest offering since September 2025. IPOX® Associate Lukas Muehlbauer said the deal demonstrates London’s ability to attract sizable international listings while also reflecting a buyer’s market. He noted that companies must remain realistic about valuation as Airtel Money prepares to raise about $703 million through the sale of 270 million shares ahead of its October debut.

Reuters reports that Oura postponed its planned U.S. IPO as market volatility and higher interest rates increased investor caution toward new listings. IPOX® Associate Lukas Muehlbauer commented that higher rates are making investors more selective, particularly on growth valuations, while noting that the IPO window remains open. He also highlighted reported demand for Oura’s offering, which was said to be around four times oversubscribed, and pointed to Anthropic’s planned IPO as an important upcoming market test.

Reuters reports that Accelevation is targeting a valuation of up to $5.37 billion in its U.S. IPO, seeking to raise up to $720 million. IPOX® Vice President Kat Liu said investors are becoming more selective as AI infrastructure offerings expand, focusing on companies’ value-chain positioning, backlog quality, and ability to convert demand into revenue, margins, and cash flow. Accelevation provides power distribution, cooling, and modular infrastructure for data centers supporting growing AI computing demand.