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What Companies Going Public Write About

Share of U.S. IPO prospectuses that mention AI, tariffs or China in their Risk Factors and Business sections, %, quarterly

AI: 73.2% in Q3 2026+73.2 pp since Q1 2010

1 of 3 series is above their level a year earlier

YTD1y2y5y10y20yAll
Forecast availableOffContinuationForesight™
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U.S. recessionsShades the months the NBER dates as recession. U.S. charts only.High and lowMarks the highest and lowest readings in the window shown.
Current·Data to Q3 2026

Plays the chart through its history. Pauses are where the data set a record or moved most.

Palanor calculation from SEC EDGAR (public domain): each company’s first registration statement (Form S-1 or F-1, blank-check companies left out), the Risk Factors and Business sections, by the quarter it was filed. A prospectus counts once it uses a topic’s words at least once; the word lists were fixed before counting. A mention is not exposure, and the mix of companies filing moves the shares.

What companies tell investors when they first file to go public: the share of IPO prospectuses that mention artificial intelligence, tariffs and China, counted by Palanor from the filings themselves.

What this chart reads

Sources

Share of IPO Prospectuses Mentioning AI (quarterly). Source: Palanor calculation from SEC EDGAR filings (U.S. Securities and Exchange Commission; public domain). Palanor reads the filings to count words by fixed rules and never stores or republishes their text.

Share of IPO Prospectuses Mentioning Tariff (quarterly). Source: Palanor calculation from SEC EDGAR filings (U.S. Securities and Exchange Commission; public domain). Palanor reads the filings to count words by fixed rules and never stores or republishes their text.

Share of IPO Prospectuses Mentioning China (quarterly). Source: Palanor calculation from SEC EDGAR filings (U.S. Securities and Exchange Commission; public domain). Palanor reads the filings to count words by fixed rules and never stores or republishes their text.

Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.

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