Lime, an electric scooter firm, raised $167 million in its IPO, pricing at the midpoint, serving as a test for market appetite after Iran-induced volatility. The listing is considered a small precursor to anticipated IPOs from Anthropic and OpenAI, two AI labs with valuations in the hundreds of billions or beyond. Lime, which is loss-making and capital-hungry, is bleeding $59.3 million a year, and its successful IPO suggests investors may be preparing for larger offerings. The revival has momentum from resilient equity markets and a run of high-profile offerings, but whether that momentum can support a trillion-dollar AI float, which would absorb liquidity on a scale making Lime's $167 million appear negligible, remains an open question.