Strong IPO momentum in 2026, with 83 traditional offerings raising over $120 billion through September—already exceeding full-year 2025 totals excluding SpaceX—reflects robust risk appetite and selective investor focus on durable growth and profitability. Recent postponements, such as Oura and Holtec, highlight valuation sensitivity amid AI spending concerns and elevated Treasury yields, while Anthropic’s anticipated debut and a pipeline of biotech, infrastructure, and tech filings sustain near-term activity. Trader consensus on individual names prices in the likelihood of year-end listings against regulatory, market volatility, and earnings trajectory risks, with FOMC decisions and fourth-quarter data releases as key swing factors.