**Robust IPO activity in 2026, driven by AI infrastructure and tech demand, continues to shape trader views on listings before year-end.** Year-to-date proceeds have reached record levels near $146 billion through mid-September, with the U.S. market on pace for over $275 billion annually amid strong aftermarket performance in select deals like SpaceX. High 10-year Treasury yields near 19-year peaks and the Federal Reserve’s September rate hike have introduced selectivity, prompting some delays such as OpenAI’s potential shift to 2027 while Anthropic targets a November window. A deep pipeline of candidates—including Oura, SB Energy, and biotech names—alongside Hong Kong’s HK$388 billion-plus haul through Q3 supports expectations for additional U.S. and global IPOs in the final quarter, though elevated rates and valuation scrutiny remain key swing factors for completion by December 31.