Key Points
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Three nuclear energy companies occupy the top spots with returns ranging from 556.9% to 712.29%.
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Data center power demand drove performance across nuclear producers and AI infrastructure IPOs.
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The biggest IPOs have centered around technology and energy.
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This last couple of years have been lackluster in initial public offerings (IPOs). That could change in 2026, with the possibility of SpaceX, OpenAI, and Anthropic going public. If you plan to buy and hold these newly public stocks, it can pay to look back and see which IPOs succeeded the most.
Here are the 10 best American IPOs in the past 10 years, minus companies with a market capitalization below $1 billion. The next 10 years could be even more successful for new market entrants as AI and tech boost growth and profitability.
#10 Life360 Inc. (LIF)
Life360 is a family connection and safety company known for location-sharing and related services across its mobile app ecosystem. What made its IPO successful: The U.S. listing priced at $27 and broadened access to U.S. investors, leveraging an already scaled user base and established ASX presence under a top-tier underwriting syndicate.
LIF returned 89.65% since its IPO in June 2024. Shares are $49.31. Its market cap is $3.866 billion.
#9 Tourmaline Bio
Tourmaline is a clinical-stage biopharma developing pacibekitug, an anti-inflammatory antibody to treat cardiovascular diseases. What made its IPO successful: Momentum came from follow-on financings and clinical data. This later attracted a $1.4 billion acquisition agreement by Novartis.
Tourmaline’s IPO date was on Oct. 19, 2023. It boasted an annualized total return since the IPO of 113.5%. Novartis completed its acquisition in October of last year.
#8 CoreWeave Inc. (CRWV)
CoreWeave is an AI infrastructure cloud that provides access to data centers and high-performance Nvidia GPUs to run generative-AI workloads. What made its IPO successful: Significant multi-year deals from AI and cloud companies, plus the ongoing broader AI rally.
With a market cap of $50.061 billion, CoreWeave has returned 146.26% since is March 2025 IPO. Shares are $96.04.
#7 Karman Holdings Inc. (KRMN)
Karman designs and manufactures defense and space systems, like payload protection and propulsion components for government and commercial programs. What made its IPO successful: The deal was upsized and priced above the range. Shares jumped about 36% on debut as investors sought exposure to defense and space manufacturing. There’s an ongoing space+defense boom.
Shares are now priced at $75.79. The company’s market cap is $10.029 billion. KRMN has returned 152.63% since its IPO in early 2025.
#6 Reddit Inc. (RDDT)
Reddit operates a social media platform built around 100,000+ topic-based communities for discussion and content sharing. What made its IPO successful: The offering was four to five times oversubscribed, priced at the top of the range to raise about $748 million, and finished day one up 48%. Also, content within Reddit is used heavily for AI training.
It costs $139.65 to buy a Reddit share and the company’s market cap is now $26.678 billion. RDDT went public in March 2024 and is up 197.13% since then.
#5 Mercurity Fintech Holding
Mercurity Fintech was a blockchain-focused fintech with digital-asset services. In late 2025, the company rebranded as Chaince Digital Holdings Inc. (Nasdaq: CD). What made its IPO successful: Performance benefited from the broader crypto rebound and improving sentiment toward bitcoin-linked names that followed the sector’s recovery from 2022-2023 lows.
Before becoming Chaince, Mercurity Fintech has an annualized total return since it IPO of 221.18%.
#4 Core Scientific Inc. (CORZ)
Core Scientific mines bitcoin using high-performance computing infrastructure and emerged from Chapter 11 with reduced debt and plans to relist on Nasdaq. What made its IPO successful: The relisting coincided with a sharp bitcoin recovery and a pivot to AI.
Since its IPO in January 2024, Core Scientific is up 221.44%. Shares are priced at $17.84. The market cap is $5.531 billion.
#3 Oklo Inc. (OKLO)
Oklo develops fast-fission microreactors and nuclear fuel recycling technologies, and it was listed on the NYSE after completing its merger with AltC Acquisition. What made its IPO successful: Backing from Sam Altman’s SPAC, progress with the U.S. Department of Energy, and commercial traction via power agreements for data-center demand created a compelling growth narrative that boosted post-listing gains.
Since its IPO in May 2024, OKLO has returned 556.9%. With a market cap of $10.264 billion, shares are priced at $65.69.
#2 Nano Nuclear Energy Inc. (NNE)
Nano Nuclear develops microreactors (ZEUS and ODIN) and aims to build HALEU fuel capabilities supporting advanced nuclear deployment. What made its IPO successful: The IPO priced at $4 and later became one of 2024’s best-performing U.S. IPOs amid rising policy momentum for SMRs and advanced reactors, which boosted investor demand for nuclear stocks.
NNE is up 588.61% since its May 2024 IPO. With a market cap of $1.254 billion, shares cost $24.79.
#1 Talen Energy Corp. (TLN)
Talen is a power producer with a mix of zero-carbon nuclear generation, a large gas and peaking fleet, and digital-infrastructure assets after its restructuring. What made its IPO successful: The post-bankruptcy relisting benefited from a significantly deleveraged balance sheet and accelerating data-center power demand, with subsequent multi-billion-dollar plant acquisitions.
TLN went public in June 2023 and recorded a stunning return of 712.29%. The company’s market cap is $17.211 billion. Shares are $376.70.
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