Corporate investors have been part of $3bn worth of AI deals so far this year, with June particularly strong. There has also been a uptick in exits.

The value of corporate-backed deals slumped in the third quarter, but sectors like energy and telecoms bucked the trend as did a few geographies like Israel.

In the run-up to the float, Porche's investment arm had invested in 18 companies, from hypercars to EV batteries and even bikes.

Healthcare companies may be driving a public markets recovery while Lunar Energy, helmed by Tesla's former head of energy, has emerged from stealth with $300m.

The audio streaming service is set to list with help from a PIPE deal featuring Orange, Access Industries, Warner Music, UMG and Media Participations.

Kraken, OK Group, 9fBank and Baofoo are in line to exit Wyre, with its cryptocurrency infrastructure technology to strengthen Bolt's one-click checkout offering.

The Stripe-backed rapid checkout tool developer was valued at $1bn early last year but is closing its doors after failing to raise more cash.