Asks about Nasdaq's Q4 earnings beat and outlook for the rest of the year.
Host
Adena Friedman
Reports strong Q4 performance with 13% revenue growth, $99B index inflows, $233B largest closing cross, $1.2T market cap switches, and 72% IPO win rate. Sees momentum going into 2026.
Notes excitement about SpaceX and massive IPOs coming.
Host
Adena Friedman
Confirms very active IPO outlook with healthy pipeline and early January activity. FinTech business and market modernization growing nicely.
Asks about AI impact on employment given Zuckerberg and Powell comments, and outlook for the rest of the year.
Host
Adena Friedman
Views AI as a superpower for growth, enabling engineering teams to be more efficient and deliver better code. Focused on bringing in young AI-native talent and reskilling.
Asks about Nasdaq's transformation since Adenza acquisition and future plans.
Host
Adena Friedman
Focuses on organic growth and serving clients across risk management, anti-financial crime, regulatory reporting, and market infrastructure. Every product roadmap has AI built in.
Notes Nasdaq's business is much bigger than just listings, referencing $99B index inflows.
Host
Adena Friedman
Confirms listings business is important catalyst but Nasdaq is now much broader platform driving entire financial system.