IT fundraising falls sharply in August; debt deals dominate

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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 [https://seekingalpha.com/symbol/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 [https://seekingalpha.com/symbol/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 [https://seekingalpha.com/symbol/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 Strategy (NASDAQ:MSTR [https://seekingalpha.com/symbol/MSTR]), which raised $2.52B through preferred securities. Broadcom (NASDAQ:AVGO [https://seekingalpha.com/symbol/AVGO]) followed closely with a $2.5B debt sale, while Synopsys (NASDAQ:SNPS [https://seekingalpha.com/symbol/SNPS]) raised $2.4B in March.
[Largest IT offerings YTD]
S&P Global Market Intelligence

Other major deals included Super Micro Computer (NASDAQ:SMCI [https://seekingalpha.com/symbol/SMCI]) at $2.3B and multiple $2B debt offerings from Cloudflare (NYSE:NET [https://seekingalpha.com/symbol/NET]), CoreWeave (NASDAQ:CRWV [https://seekingalpha.com/symbol/CRWV]) and Synopsys (NASDAQ:SNPS [https://seekingalpha.com/symbol/SNPS]).

MORE ON CLOUDFLARE, ROPER, ETC.

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* CoreWeave: The Nvidia Put Is A Game Changer [https://seekingalpha.com/article/4826397-coreweave-the-nvidia-put-is-a-game-changer]
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* CoreWeave soars on Evercore 'Outperform' rating, Meta deal [https://seekingalpha.com/news/4500215-coreweave-jumps-as-evercore-initiates-coverage-with-outperform-rating]