**Strong 2026 IPO momentum, concentrated in mega-deals, underpins trader sentiment on whether high-profile companies complete listings by December 31, 2026.** U.S. traditional IPO proceeds reached roughly $114 billion in the first half alone—more than seven times 2025 levels—with SpaceX’s record ~$75 billion offering in June exemplifying selective strength at the top end. AI leaders like Anthropic remain on track for a potential November 2026 debut, while OpenAI has shifted toward 2027 amid valuation hurdles and AI safety debates. Elevated Treasury yields, equity volatility, and aftermarket performance concerns have prompted postponements (e.g., Oura) and tempered broader pipelines, even as filings continue. Key near-term catalysts include Anthropic’s investor day and any FOMC signals on rates that could influence risk appetite and valuation multiples heading into year-end.