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Listings of Artificial Intelligence and Robotics Companies Public Surge

August 2020 saw a surge in filings for companies in our thematic universe announcing either IPOs (Initial Public Offerings) or SPAC (Special Purpose Acquisition Company) deals. IPOs include cloud data analytics and log analysis company Sumo Logic (IPO), AI firms Palantir (via direct listing) and Snowflake (IPO). SPAC deals include metal 3D printing firm Desktop Metal and LIDAR (sensor for autonomous vehicles) maker Luminar Technologies. What makes the recent announcements different from the past is that many of these businesses have established track records or are demonstrating very high growth and are coming to market at large market capitalisations. For example, Palantir was established in 2003 and is aiming to list at a value of around $10bn. The smallest IPO deal Sumo Logic achieved its status as a ‘unicorn’ (valuation over $1bn in private markets) last year, and is expected to list at a significantly higher amount of $1.9-2.1 billion.

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