**IPO activity in late 2026 remains robust but selective, with over 250 U.S. listings year-to-date raising substantial proceeds amid an AI-driven pipeline.** Recent pricings such as Accelevation Holdings and ADARx Pharmaceuticals, alongside ongoing S-1 filings, reflect continued access to public markets despite volatility, elevated Treasury yields, and concerns over AI capital expenditure. High-profile names like Anthropic are advancing toward a potential pre-Thanksgiving debut at multi-trillion valuations, supported by confidential filings and investor days, while Oura’s postponement highlights sensitivity to pricing and sentiment. OpenAI has signaled a 2027 timeline. Trader-implied probabilities on platforms like Polymarket aggregate capital-at-risk views on these timelines, factoring regulatory paths, comparable transaction precedents, and macroeconomic conditions into resolution odds by year-end.