Initial public offerings (IPOs) are proving resilient, offering a sign of confidence in the future despite global economic uncertainties. This year has witnessed record IPO activity, surpassing all previous years since the boom of 2021. While President Trump’s tariff adjustments have caused volatility, new tariffs projected to generate $2.7 trillion between 2026 and 2035 suggest a positive outlook for capital formation. Factors like reshoring manufacturing, lower borrowing costs thanks to rate cuts, and increased domestic asset allocation are all driving this trend. Despite short-term challenges, these factors should contribute to robust capital formation. Here are three companies poised for IPO success in 2025: