Svmuu News: According to data compiled by Bloomberg, the five largest U.S. investment banks are expected to generate approximately $11.1 billion in investment banking fee revenue in the second quarter of 2026, a 27% year-over-year increase and the highest level since 2021.This growth is primarily driven by the SpaceX IPO and a resurgence in large-scale M&A deals. The SpaceX IPO alone generated approximately $500 million in fees for the 23 investment banks involved in the underwriting—a record high for a public offering—with Goldman Sachs, and Morgan Stanley each earning approximately $100 million.
In addition, M&A fee revenue for the five major investment banks is expected to rise by about 30% year-over-year, reaching more than $4 billion. The market believes that future IPO plans by major tech companies such as SpaceX, OpenAI, and Anthropic may further drive growth in Wall Street’s investment banking business. (Financial Times)