The current market is seeing a surge in AI-driven mega IPOs, such as OpenAI and SpaceX, while micro cap IPOs are disappearing. Micro cap IPOs, historically valued between $5 million and $30 million, face increasing regulatory hurdles. Regulators now demand a minimum $15 million public float, making it harder for these smaller companies to go public. This crackdown intensified due to "pump-and-dump schemes" involving tiny foreign companies, leading to delistings and trading halts.Unlike mega IPOs that secure vast funding, micro caps struggle to attract capital, typically raising only millions. In 2026, only 13 micro caps went public, raising less than $300 million combined, a significant drop from 80 in 2025. This contrasts sharply with SpaceX's $85.7 billion raise, highlighting a growing funding gap. Micro cap IPOs offer early-stage companies a path to going public. They also provide opportunities for everyday investors to support small businesses. This shift means a loss of investment avenues for smaller investors.