Recent postponements of sizable offerings, including Oura’s $2.2 billion deal and several others in September 2026, reflect valuation skepticism and concerns over AI spending sustainability amid elevated Treasury yields. Year-to-date, the U.S. market has seen 251 IPOs raising substantial proceeds, led by earlier mega-listings such as SpaceX, though Q3 activity fell short of expectations. The visible pipeline includes AI infrastructure and consumer names, with Anthropic reportedly advancing toward a possible November debut after confidential S-1 filing. Market-implied odds for several high-profile companies remain mixed, underscoring uncertainty over whether macroeconomic stability and risk appetite will support further listings before December 31.