The new year has officially arrived, and as always, this means investors will welcome new opportunities. Looking ahead to 2025, there are five technology companies that may list on the US stock market, which are expected to drive the entire US market to new heights, especially for the 'Big Seven' tech giants and the NASDAQ 100 Index focused on cutting-edge technology companies, which may have very strong upward momentum.

Many investors may be pondering a question: which new companies, particularly influential technology companies, are crucial for the bullish sentiment in the market and plan to go public in 2025?

In the past year, several well-known companies, including Reddit (RDDT.US) and Nano Nuclear Energy (NNE.US), chose to launch their IPOs in the US market. Both companies exhibited extraordinarily outstanding performance and stock price performance in their first year after listing, boosting the overall bullish sentiment in the US stock market, which in turn pushed the S&P 500 Index to new highs this year; for the social media and nuclear energy industries that these two companies are part of, this provided incredibly strong upward catalysts, driving the stock prices of the leading forces in these two industries to soar.

Wall Street financial giant Goldman Sachs is bullish on the U.S. stock benchmark - the S&P 500 Index continuing to hit new highs in 2025, with an expected rise to 6,500 points under the benchmark scenario, and noting that the excitement driven by the Trump administration's policies.mergers and acquisitions.The IPO activities of significant companies in the Technology sector will further support the upward movement of stock prices.

This year's IPO market in the US may be even more prosperous, especially for the technology sector. In 2024, many investors are focusing on the booming AI market. Now, as the macroeconomic conditions and technological developments are set to shift again, some experts believe that companies in the field of quantum computing may face more development opportunities.

However, overall, these two fields—AI and quantum computing, even the cutting-edge area of 'AI+quantum computing,' as well as many technology development fields that include AI and CNI Xiangmi Lake Fintech Index, are expected to maintain a growth trend.

Which frontier innovators in the technology sector plan to list on the US stock market in 2025? Below are potential technology company IPOs that could shake the entire US stock market this year, compiled by Institutions, and these are companies worth investors' attention that may go public in the USA in 2025.

CoreWeave

Since the unprecedented wave of investment in AI began sweeping the globe in 2023, investors have been searching for the next NVIDIA (NVDA.US). Now, an AI startup funded by NVIDIA, the AI chip giant, CoreWeave, is preparing to go public in the third quarter of 2025 with a valuation of $3.5 billion.

CoreWeave is a cloud service provider focused on high-performance computing (HPC) and AI workloads, headquartered in the USA. The company was initially founded by three co-founders in 2017 and originally ventured into the cryptocurrency mining sector, later transforming into a cloud computing platform focused on AI GPU computing resources based on market trends and its own technology accumulation.

CoreWeave offers large infrastructure that supports data-intensive AI workloads, focusing on providing robust cloud AI computing resources for AI training/inference workloads. This AI computing power Rental & Leasing Services provider offers a range of AI computing leasing services, including cloud-based AI computing solutions and AI object storage, both designed to support the entire workflow of AI and machine learning, deep learning models.

As early as August 2023, CoreWeave became the first cloud computing service provider to deploy NVIDIA H200 Tensor Core GPUs, a high-performance AI GPU, which allows it to provide unmatched computing power to customers. Driven by the AI wave, particularly in 2023, CoreWeave gained rapid recognition in the cloud AI GPU computing market by purchasing large quantities of high-end NVIDIA AI GPUs (such as H100/H200) and fully collaborating with NVIDIA in the CUDA hardware-software ecosystem.

CoreWeave has the nickname 'NVIDIA's favored child,' having not only received direct investment from NVIDIA but also having priority access to the highly sought-after NVIDIA H100/H200 and Blackwell series A GPUs. A standout feature of CoreWeave's AI cloud service is its focus on providing high-end AI GPU (especially NVIDIA GPU) clusters, allowing users to access high-performance AI GPU computing resources on demand in the cloud—specifically cloud AI computing resources for machine learning, deep learning, and inference AI workloads.

CoreWeave supports large-scale elastic deployment, allowing users to quickly increase or decrease the number of AI GPUs according to project needs, suitable for AI model training (such as large language models, computer vision systems, etc.) and large inference workloads that require real-time processing. Besides AI, CoreWeave's NVIDIA AI GPU resources can also be used for traditional HPC scenarios (scientific computing, molecular simulation, financial risk analysis, etc.).

Klarna

If investors are looking for the next major investment opportunity in the 'Buy Now, Pay Later' technology sector, this chance may first appear in the first quarter of 2025. The Swedish fintech company Klarna, a digital payment processing company, announced in November 2024 that it had secretly submitted a registration statement for an initial public offering (IPO) to the U.S. Securities and Exchange Commission (SEC). Some important companies typically choose to submit confidentially to protect the privacy of their financial or operational matters, especially when they have sensitive information that might be disclosed in public documents.

Klarna offers exclusive installment payment plans that allow it to compete with credit card issuers. Its supporters include SoftBank, the Japanese investment giant led by Masayoshi Son, and globally leading venture capital firm Sequoia Capital.

The company completed its last round of financing in 2022, with an estimated valuation of about 6.7 billion USD, but Klarna's initial public offering (IPO) overall valuation is expected to be between 15 billion and 20 billion USD. Unlike those newly established public companies, Klarna, founded in 2005, has become one of the world’s leading 'Buy Now, Pay Later' core service providers. Klarna provides plugins or integration solutions for major e-commerce platforms (such as Shopify, WooCommerce, Magento, etc.), enabling merchants to easily access Klarna's payment services.

Klarna is one of Sweden's most successful fintech companies, focusing on providing 'Buy Now, Pay Later' and various flexible payment solutions for online and offline shopping scenarios.

As human society enters the AI era starting in 2024, the channels for digital payment applications under the dominance of fintech are expanding significantly, coupled with the rapid penetration of blockchain technology and the investment boom in cryptos spurred by Trump's election win, fintech has once again become a key focus area for Wall Street investment institutions after many years. Especially with Trump appointing numerous politicians who support the accelerated development of cryptos in the new U.S. government cabinet, the bullish trend expectations for crypto and blockchain policies further stimulate a fintech investment boom in the global financial market.

Analysts at Citigroup, a major Wall Street firm, expect that 'fintech' will enter a 'vibrant new phase' in 2025, continuing the prosperous development curve following the stable improvement of industry trends in the fourth quarter of 2024. Although the industry has experienced a roller coaster over the past five years since the outbreak of the COVID-19 pandemic, benefiting from the unprecedented dividends brought by the wave of remote and work-from-home practices during the pandemic, it has also faced a complete decline in the investment boom brought about by the post-pandemic global economic 'super recovery'. Nevertheless, the potential long-term growth momentum of digitalization, modernization, and empowerment across various industries remains unchanged.

Chime

Klarna may not be the only fintech service company shaking up the stock market investors in the USA with an IPO in 2025. According to media reports, the popular digital banking app provider Chime has also secretly submitted an application for listing and submitted the required forms in December 2024.

Chime offers many powerful features, such as free banking services and the ability to view paychecks or receive wages in advance, making it one of the most popular digital banks in the USA. While there is currently no valuation for Chime's initial public offering, the company's valuation reached as high as 25 billion dollars in its last funding round in 2021, although that was during the peak of the IPO frenzy in 2021.

Like Klarna, Chime also receives strong support from SoftBank and Sequoia Capital, as well as wealth management giant Tiger Global in the USA.

Chime is a fintech company in the USA founded in 2013 and headquartered in San Francisco. It is regarded as one of the strongest representatives of digital banks (Neobanks) or challenger banks in the USA, primarily providing consumers with no-fee or low-fee bank accounts and related financial services.

As one of the leading digital banks in the USA, Chime has attracted a large number of young users and those dissatisfied with the long-standing fees of traditional banking systems through zero monthly fees, no overdraft fees, and a convenient mobile experience. Common overdraft fees, monthly fees, or minimum balance requirements found in traditional banks have been eliminated or greatly simplified at Chime. While Klarna focuses on "Buy Now, Pay Later" (BNPL), Chime concentrates on personal digital banking and building digital credit.

Cerebras Systems

Cerebras Systems, a potential competitor to NVIDIA, the absolute leader in the AI Chip field, submitted an application for listing in the USA in September 2024 but was forced to suspend it due to legal issues. However, analysts indicate that after resolving important matters related to National Security review, the possibility for Cerebras Systems to go public in the USA in 2025 is very high.

Cerebras Systems utilizes its wafer-scale engine (WSE) technology to produce AI Chips for AI training/inference systems. Unlike chip giants like NVIDIA, Broadcom, and AMD that focus on smaller high-performance chips and then integrate and package them using Taiwan Semiconductor's exclusive chiplet advanced packaging, Cerebras Systems manufactures a super-large chip that can cover an entire silicon wafer. Nonetheless, this unique chip manufacturing method has raised speculation that it could rival the performance of AI Chips from companies like NVIDIA, AMD, and Intel in the future, leading the trend of "super-large chip" manufacturing.

With its ultra-large chip architecture and high-bandwidth interconnect, Cerebras aims to challenge the high-performance AI training and inference infrastructure currently dominated by NVIDIA AI GPUs. Chip evaluation data shows that a single ultra-large chip from Cerebras Systems integrates massive computational resources, reducing inter-chip communication latency, which presents a significant potential advantage over NVIDIA in scenarios such as training large models, especially sparse models or those requiring a large amount of on-chip storage.

Cerebras' WSE (now updated to WSE-2/3 version) is a chip made from a single 300mm wafer rather than an advanced packaging based on 'chiplets'. This means that the ultra-large chip contains tens of thousands to hundreds of thousands of AI accelerator cores, massive on-chip storage, and interconnect networks. By bypassing the limitations of 'chiplet' packaging and inter-chip interconnects, Cerebras can achieve extremely high bandwidth and storage on the same silicon chip while reducing communication latency, which is particularly beneficial for the training and inference of large-scale AI models. However, manufacturing chips from an entire wafer requires overcoming many challenges, such as wafer defects, the yield problems associated with ultra-large chip areas, and heat dissipation, which is a relatively rare semiconductor engineering approach in the market.

However, after submitting a U.S. IPO application in September, Cerebras has postponed its initial public offering (IPO) due to the U.S. Committee on Foreign Investment (CFIUS) announcing a review of the minority stake held by investment firm G42. However, if the review formally concludes soon without identifying any unlawful conduct, the company will choose to go public in 2025.

Zopa

The anticipated 'fintech IPO boom' that may emerge in 2025 is not limited to the USA. Zopa is a digital bank headquartered in the United Kingdom, offering digital deposit accounts, personal loans, and credit card services. Initially, it was a P2P lending service company, but later evolved into one of Europe's leading pure digital banks, covering many areas including savings, loans, credit cards, and auto finance.

According to TechCrunch, Zopa has successfully raised nearly 8.7 billion dollars in equity financing. The media pointed out that after this round of financing, the company’s valuation even surpassed some small and medium-sized banks, but the specific valuation has not been disclosed.

The company's CEO, Jaidev Jana, recently stated that Zopa is waiting for more favorable market conditions before going public. However, if the IPO processes of Klarna and Chime proceed very smoothly, it might create conditions for Zopa’s IPO before the end of 2025. As for choosing between the European or American stock markets, analysts generally predict that Zopa may prefer the American market, which is willing to offer higher valuations to fintech companies.

Similar to Chime, Zopa also has the 'challenger bank' gene, targeting individual users seeking more flexible and transparent financial services. Compared to many traditional banks in the United Kingdom, Zopa places more emphasis on simplifying processes, transparent fees, and user experience, focusing on 'digital, lightweight, and low threshold'. Among them, Zopa's digital credit card emphasizes no complicated fees, an easy application process, and flexible repayment methods to attract young consumers and cost-saving clients in the United Kingdom.