Nasdaq’s CFO, Sarah Youngwood, announced the company raised $111 billion in IPOs during the first half of 2023, marking its best performance to date, with $86 billion linked to SpaceX. She highlighted a favorable economic environment driven by investment in artificial intelligence and resilient corporate earnings, supporting a robust IPO market.
Youngwood reported that Nasdaq’s index business reached $1 trillion in exchange-traded product assets under management, experiencing 35% growth in the latest quarter with $109 billion in net inflows. Approximately 38% of the inflows originated from products launched within the past five years, showcasing the success of new investment strategies.
In the fintech sector, Nasdaq’s revenue grew 15% in the second quarter, bolstered by Verafin’s financial-crime management services, which signed 11 enterprise deals during the same period. Nasdaq continues to prioritize organic growth and has repurchased around $900 million in shares this year, indicating strong financial health with over $2 billion in free cash flow.
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