CoreWeave, Circle Spark IPO Frenzy — Now Chime and Voyager Step Up

Looks like IPO fever is heating up again on Wall Street — and this time, investors seem hungry for risk.

After a quiet stretch, the U.S. IPO market is making a bold comeback. The explosive debuts of Circle ($CRCL) and CoreWeave ($CRWV) have reignited investor interest, and now, two more closely-watched names — Chime Financial and Voyager Technologies — are set to test the waters this week. The question is: Can they ride the same wave?

IPOs Are Back in Style

Circle and CoreWeave’s impressive market debuts have sparked a rush of optimism.

CoreWeave, a cloud infrastructure provider for AI workloads and a close Nvidia partner, had a quiet IPO back in late March — its stock hovered around the $40 IPO price for several weeks. But things changed dramatically in mid-May. After posting Q1 revenue growth of ~420% year-over-year and raising its guidance, the stock surged more than 70% in a single day. The momentum didn’t stop there. CoreWeave kept climbing, and as of June 9, it closed at $162.10, representing a remarkable ~305% gain from its IPO price.

Circle, best known for issuing the USDC stablecoin, has been perhaps the most spectacular performance yet. Priced at $31 at IPO, the stock skyrocketed 168% on day one, climbed a further 29% on day two, and continued grinding upward. As of June 9, in just three trading days, CRCL has surged to around $115 — a stunning ~271% gain since its IPO.

For anyone who sat out? The FOMO is real.

Samuel Kerr of Mergermarket summed it up well: “Investors who missed CoreWeave’s rally might now have FOMO — fear of missing out on the next big thing.”

And if Chime and Voyager can deliver strong debuts, we may see even more filings ahead of the fall IPO season.

What’s Coming Next: Chime and Voyager

Now, attention shifts to this week’s two headline IPOs:

Chime Financial (CHYM.US)

A fintech disruptor offering no-fee mobile banking, early paycheck access, and a high-yield savings product. Chime plans to list 32 million shares in the $24–$26 range, aiming to raise $800 million, with a valuation north of $10 billion.

Its massive free ATM network even surpasses the largest U.S. banks. With a younger, digitally native user base and services like free tax filing, Chime has built a compelling growth story. The stock is set to debut on June 12 on Nasdaq.

Voyager Technologies (VOYG.US)

Operating in the defense and aerospace sector, Voyager is pricing 11 million shares at $26–$29, which would raise over $300 million, valuing the company around $1.6 billion.

It already counts NASA, Palantir, and Lockheed Martin among its key partners. In a market that’s increasingly focused on national security and AI integration in defense, Voyager could attract institutional interest. The listing is scheduled for June 10 — that’s today — on the NYSE.

If either of these companies can replicate the momentum of CoreWeave or Circle, the IPO window could swing wide open for more growth names. So what does this mean for the broader IPO pipeline?

Is the IPO Window Really Open?

Kerr believes the strong showings of Circle and CoreWeave could finally convince hesitant private firms to move forward.

“The IPO window is opening, and the speed of the rebound has shocked a lot of people.”

But caution remains warranted.

Summer is traditionally a quiet period for IPOs, with many companies holding off until fall. Chime and Voyager’s performance could set the tone — not just for Q3 listings, but for the broader risk appetite heading into the U.S. election season.

There’s also policy uncertainty in the mix. Russell Investments’ BeiChen Lin notes that possible Fed rate cuts and regulatory easing under a Trump administration might boost IPO and M&A activity. But any renewed trade tensions — especially around tariffs — could quickly chill sentiment.

“Trade policy uncertainty makes decision-making harder. It could easily offset the benefits of deregulation.”

Final Take

Right now, investors are clearly chasing high-growth narratives — especially in AI, fintech, and crypto-adjacent sectors.

Circle’s eye-watering performance shows the level of enthusiasm — and how fast the market can reprice a major new issue.

But this enthusiasm is fragile. If Chime or Voyager stumble, it could spook the market and shut the IPO window just as quickly as it opened.

Still, for now, the message is clear: Wall Street is back in the mood for risk — and the chase for the next breakout IPO is on.