What happened
Min-Liang Tan, co-founder and chief executive of gaming hardware maker Razer, told CryptoBriefing on Wednesday that public equity markets should expect successive waves of AI-linked IPOs over the coming quarters. Tan, who has been an active tech investor outside Razer's core business, said the maturing revenue base of large AI vendors plus pent-up venture capital pressure for exits has set the table.
He didn't name specific filers. He pointed instead to a pattern: late-stage rounds at valuations that only public markets can absorb. The interview was published at 10:06 UTC and flagged as high-importance by the publication's editorial desk.
Tan's framing was bullish on the cycle, cautious on individual names.
Why it matters
Tan's comments matter because they come from an operator who has watched the gaming-and-tech IPO cycle from the inside. Razer itself went public in Hong Kong in 2017, then went private again in 2022 at a roughly $3. 2 billion valuation, so Tan has lived the full arc.
When an operator with that scar tissue says a wave is coming, it's a signal worth weighing against the usual VC cheerleading. For crypto, the read-through is liquidity. A heavy AI IPO calendar pulls retail and institutional dollars toward equity allocations and away from the speculative tail of token markets.
That's the bear case for AI-tagged tokens in the near term. The bull case is narrative reinforcement: every successful AI listing validates the thesis that AI infrastructure is the next platform shift, and crypto's AI sector rides that wake.