Holtec Nuclear’s withdrawal of its IPO registration statement on September 25, 2026, after postponing the planned September launch, underpins the 96% market-implied probability of no offering before November 2026. The filing had targeted a valuation up to $10.2 billion with 50 million shares priced at $15–$18, but investors balked amid a sharp correction in nuclear and AI-data-center equities, with recent peers trading well below debut levels. Persistent headwinds including elevated interest rates, data-center demand uncertainty, and broader equity-market volatility reinforced the decision to shelve the deal. A near-term reversal would require rapid stabilization in sector sentiment and a new filing, both improbable within the narrow window to November.