[Wall Street IPO Activity Plummets, Investors Start Saying 'No' to AI's High Valuations] Odaily Planet Daily reports that IPO activity on Wall Street has slowed to a trickle, with investor demand for new stock issuances remaining sluggish. Coupled with market concerns over excessive valuations, this quarter—which was originally expected to see a surge in listings—has come under pressure. The delayed IPOs of Anthropic and OpenAI have further dampened sentiment in the U.S. equity capital markets. A head of equity capital markets at a major U.S. asset management firm stated, 'Right now, no one cares about any company other than Anthropic.' Investment bankers have seen strong business this year largely thanks to SpaceX's June IPO. However, growing concerns about a downturn in the AI industry and public opposition to data centers have caused the IPO market to dry up in recent weeks. The aforementioned banker added that investors are increasingly questioning the 'unrealistic' valuations of companies tied to the AI investment frenzy. According to data from BCA Research, the stock prices of tech companies that went public this year have fallen by an average of about 23% since their first trading day, further exacerbating market concerns that banks may be overpricing deals in their pursuit of underwriting business. (Sina Finance)