North American information technology companies raised $4.95B in August 2025, their second-lowest monthly total of the year, according to S&P Global Market Intelligence data.
The figure marks a sharp drop from July’s $13.33B and follows three consecutive months above the $10 billion mark. By comparison, IT firms raised $4.23 billion in August 2024.
Debt offerings dominated August’s capital raising at $3.63 billion, while common equity offerings contributed $1.32 billion. No preferred security deals were recorded.
Roper Technologies (NASDAQ:ROP) led activity with three senior note offerings totaling $2B, with net proceeds earmarked for debt repayment, note repurchases, and general corporate use. TeraWulf (NASDAQ:WULF) a data center operator and bitcoin miner, completed a $1B convertible senior notes offering due 2031, including a $150M greenshoe option, netting $975.2M for expansion and corporate purposes.
DigitalOcean Holdings (NYSE:DOCN) raised $625M through senior unsecured notes due 2030, upsized from $550M, with $605.6M in net proceeds primarily allocated to capped call transactions and corporate needs.
Year-to-date, application software companies remain the largest capital raisers at $34.41B, followed by semiconductor firms at $21.34B and systems software at $11.89B.
Capital offerings completed in July continued to lead the rankings, with the largest of 2025 so far led by MicroStrategy (NASDAQ:MSTR), which raised $2.52B through preferred securities. Broadcom (NASDAQ:AVGO) followed closely with a $2.5B debt sale, while Synopsys (NASDAQ:SNPS) raised $2.4B in March.
S&P Global Market Intelligence
Other major deals included Super Micro Computer (NASDAQ:SMCI) at $2.3B and multiple $2B debt offerings from Cloudflare (NYSE:NET), CoreWeave (NASDAQ:CRWV) and Synopsys (NASDAQ:SNPS).