If successful, the initial public offers (IPOs) of OpenAI and SpaceX could help global equity capital markets (ECM) break records this year.

In this week’s podcast, Sam Kerr, Mergermarket’s global ECM editor, sits with Dealcast host, Julie-Anna Needham, to discuss why the listings of the leading generative artificial intelligence (GenAI) and spacetech companies are attracting so much attention.

GenAI company OpenAI could seek to raise USD 60bn with a valuation for the largely debt-free company above USD 1tn. The developer of ChatGPT will test investor confidence in the sector, as well as providing feedback on fears of a bubble.

Meanwhile, Elon Musk's SpaceX is another listing that would set valuation and capital-raise records, with bankers currently lining up to win the mandate.

This episode also looks at increases in defense spending and new geopolitical conflicts, most recently in Venezuela, and threats to other regions could continue to bolster the industry.