From Alibaba to AI: IPOs that defined the modern era

9 July 2026
 

Initial public offerings (IPOs) have long served as milestones in the evolution of technology and innovation. Some listings have reflected emerging trends, while others have helped shape new industries, from e-commerce and social media to electric vehicles, biotechnology, and commercial spaceflight.

Over the past two decades, a handful of technology and science-focused companies have raised unprecedented amounts of capital while capturing the attention of investors worldwide. As artificial intelligence companies and private space ventures reach new heights, 2026 is shaping up to be another significant year for the IPO market.

Alibaba (NYSE: BABA)  
2014

Alibaba's US$21.8 billion New York Stock Exchange debut was the largest IPO in history at the time, valuing the Chinese e-commerce giant at approximately US$168 billion¹. The listing showcased the rapid growth of China's digital economy and cemented Alibaba's position as one of the world's most influential technology companies, with its operations spanning e-commerce, payments, logistics and cloud computing.

Alibaba’s IPO stock price was never publicly announced. However, as of 16 June 2026, the share price sits at US$112.55.

For a deeper dive into the company, read our Stock in Focus: Alibaba article.

Meta, previously known as Facebook (NASDAQ: META)
2012

Meta, then known as Facebook, completed one of the most anticipated technology IPOs in history when it listed on Nasdaq in 2012. The listing showed the growing influence of social media at the time. Since then, Meta has expanded its operations beyond Facebook to include Instagram, WhatsApp and Messenger, becoming one of the world's largest technology companies and a major investor in artificial intelligence infrastructure.

At the time of its IPO, Meta was priced at US$38.23 per share². If you invested $2,000 in Meta in 2012, your investment would have grown ~15.5 times your original investment, providing you with a profit of around US$29,050 (excluding your $2,000 deposit and based on Meta’s share price as of 16 June 2026).

Tesla (NASDAQ: TSLA)
2010

Tesla’s IPO spearheaded the electric vehicle sector at a time when EVs remained relatively niche. Tesla's growth helped accelerate investor interest in EVs, battery technology and renewable energy, paving the way for a wave of clean-energy and electric vehicle listings in the years that followed. When Tesla listed on Nasdaq in 2010, it raised approximately US$226 million and was valued at around US$1.7 billion.

At the time of its IPO, Tesla shares were listed at US$17 per share³. If you invested $2,000 in Tesla in 2010, your investment would have grown ~24 times your original investment, providing you with a profit of around US$46,371 (excluding your $2,000 deposit and based on Tesla’s share price as of 16 June 2026).

Snowflake (NYSE: SNOW)
2020

Snowflake completed one of the largest software IPOs in history in 2020, as demand for cloud computing and data analytics were on the rise. The listing reflected the shift towards cloud-based infrastructure and highlighted investor interest in businesses that help organisations store, manage and analyse large volumes of data.

At the time of its IPO, Snowflake shares were listed at $120 per share⁴. If you invested $2,000 in Snowflake in 2020, your investment would have roughly doubled, providing you with an additional profit of around US$2,013 (excluding your $2,000 deposit and based on Snowflake's share price as of 16 June 2026).

Arm Holdings (NASDAQ: ARM)
2023

Arm returned to public markets in 2023 in a closely watched technology IPO. The company designs the processor architecture used in billions of smartphones, consumer devices and data centre systems around the world. The listing came at a time when there was growing demand for artificial intelligence computing power and a focus on semiconductor supply chains. As a key supplier of chip technology, Arm's IPO became an important indicator of investor attitude towards the semiconductor and AI sectors.

At the time of its IPO, Arm Holdings shares were listed at $51 per share⁵. If you invested $2,000 in Arm Holdings in 2023, your investment would have grown ~8 times your original investment, providing you with a profit of around US$14,179 (excluding your $2,000 deposit and based on the Arm Holdings share price as of 16 June 2026).

Rocket Lab (NASDAQ: RKLB)
2021

Rocket Lab entered public markets in 2021, becoming one of the most prominent publicly listed companies in the commercial space sector, reflecting the growing commercialisation of space and an increase in investor interest in space-based infrastructure. The company provides launch services, spacecraft manufacturing and satellite technologies. Rocket Lab's public debut highlighted how private companies are playing an important role in an industry once dominated by government agencies and large aerospace contractors.

While Rocket Lab’s IPO price was never publicly announced, Rocket Lab's Q1 2026 revenue was $200 million, indicating a 63.5% year-on-year increase⁶.

SpaceX (NASDAQ: SPCX)
2026

SpaceX’s IPO brought one of the world's largest private space companies into the public sharemarket. The listing presented investors with a tech conglomerate under founder and CEO, Elon Musk, that combines SpaceX's launch operations, Starlink's satellite internet network, artificial intelligence business xAI and social media platform X. SpaceX's public debut is widely viewed as a milestone for the industry, reflecting the growth of reusable rocket technology and the Starlink satellite network.

At the time of its IPO, SpaceX shares were listed at $135 per share⁷. Learn more about Space X.

The history of technology IPOs reflects the evolution of innovation. Alibaba marked the rise of global e-commerce, Meta turned social networking into a business model, while Tesla and Rocket Lab showed how public markets can back major technological advances.

With attention shifting to AI and commercial space, the next wave of IPOs may shape the technologies of the next decade.

As always, IPOs can involve both opportunities and risks. Investors should focus on understanding a company's business model, competitive position and long-term prospects rather than viewing any single listing as a guaranteed success.

This article is for general information only and does not constitute financial advice. Investors should consider their own objectives, financial situation and needs before making any investment decision.

Investing in overseas markets exposes you to risks including those related to movements in foreign currency exchange rates and market prices. Investing carries risk.

Past performance is not a reliable indication of future performance.