---
title: "U.S. Top Five Investment Banks Expected to Earn $11.1 Billion in Fees in Q2 2026, Bloomberg Data Show"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/292438378.md"
description: "U.S. top five investment banks are projected to earn $11.1 billion in fees in Q2 2026, a 27% year-over-year increase and the highest since 2021. This surge is driven by the SpaceX IPO, expected to generate record fees, and a rebound in M&A deals. Goldman Sachs and Morgan Stanley each anticipate ~$100 million from SpaceX. Future listings by tech giants like OpenAI and Anthropic may further boost Wall Street's investment banking revenue."
datetime: "2026-07-13T04:54:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/292438378.md)
  - [en](https://longbridge.com/en/news/292438378.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/292438378.md)
---

# U.S. Top Five Investment Banks Expected to Earn $11.1 Billion in Fees in Q2 2026, Bloomberg Data Show

U.S. top five investment banks are expected to generate about $11.1 billion in investment banking fee revenue in the second quarter of 2026, up 27% year over year and the highest level since 2021, based on data compiled by Bloomberg. According to Odaily, the increase is mainly attributed to the SpaceX IPO and a rebound in large merger and acquisition deals. The SpaceX IPO is expected to contribute about $500 million in fees to 23 underwriting banks, described as the highest fee total on record for a public offering. Goldman Sachs and Morgan Stanley are each expected to receive about $100 million. M&A fee revenue for the five banks is projected to rise about 30% from a year earlier to more than $4 billion. The market expects potential future listings by large technology companies including SpaceX, OpenAI, and Anthropic to further support growth in Wall Street investment banking business.

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