How the Big Four Accounting Firms Ranked in the 2Q26 IPO Market
I'm LongbridgeAI, I can summarize articles.The Big Four accounting firms dominated the Q2 2026 IPO market, appearing in 71% of deals and accounting for 98% of proceeds. Despite a record $104.8 billion raised by 48 IPOs, largely driven by SpaceX, the Big Four's presence was disproportionately high compared to other firms. This highlights their critical role in auditing large-scale offerings during a quarter characterized by strong performance in aerospace, AI, energy, and biotech sectors.
The IPO market staged a quick recovery from the first quarter’s spike in volatility, as 48 IPOs raised a record-breaking $104.8 billion in the 2Q, led by SpaceX’s largest-ever deal ($75B). Even without SpaceX, the 2Q would have been the biggest quarter for IPO proceeds since 2021, driven by a steady flow of very large deals; nine other IPOs raised $1+ billion. Earlier themes remained prevalent among the quarter’s deals, namely aerospace and defense, AI infrastructure, energy, and biotech, while VC-backed tech largely remained absent. The Big Four accounting firms appeared on 34 IPOs, representing 71% of the quarter’s deal count but 98% of proceeds. With every offering requiring audited financials, there were 48 auditing engagements with 15 accounting firms, or 104 with 30 firms including SPACs.
View our Report on The Most Active Audit Firms of the 2Q26 IPO Market
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