<?xml version="1.0" encoding="UTF-8"?><ns2:edgarSubmission xmlns:ns2="http://www.sec.gov/edgar/schedule13g" xmlns="http://www.sec.gov/edgar/common">
<ns2:headerData>
<ns2:submissionType>SCHEDULE 13G/A</ns2:submissionType>
<ns2:filerInfo>
<ns2:filer>
<ns2:filerCredentials>
<ns2:cik>0000019617</ns2:cik>
<ns2:ccc>XXXXXXXX</ns2:ccc>
</ns2:filerCredentials>
</ns2:filer>
<ns2:liveTestFlag>LIVE</ns2:liveTestFlag>
</ns2:filerInfo>
</ns2:headerData>
<ns2:formData>
<ns2:coverPageHeader>
<ns2:amendmentNo>1</ns2:amendmentNo>
<ns2:securitiesClassTitle>Class A ordinary shares, par value $0.0001 par value</ns2:securitiesClassTitle>
<ns2:eventDateRequiresFilingThisStatement>10/31/2025</ns2:eventDateRequiresFilingThisStatement>
<ns2:issuerInfo>
<ns2:issuerCik>0002012318</ns2:issuerCik>
<ns2:issuerName>INFLECTION POINT ACQUISITION CORP. III</ns2:issuerName>
<ns2:issuerCusip>G47875102</ns2:issuerCusip>
<ns2:issuerPrincipalExecutiveOfficeAddress>
<street1>167 Madison Avenue</street1>
<street2>Suite 20 #1017</street2>
<city>New York</city>
<stateOrCountry>NY</stateOrCountry>
<zipCode>10016</zipCode>
</ns2:issuerPrincipalExecutiveOfficeAddress>
</ns2:issuerInfo>
<ns2:designateRulesPursuantThisScheduleFiled>
<ns2:designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</ns2:designateRulePursuantThisScheduleFiled>
</ns2:designateRulesPursuantThisScheduleFiled>
</ns2:coverPageHeader>
<ns2:coverPageHeaderReportingPersonDetails>
<ns2:reportingPersonName>JPMORGAN CHASE &amp; CO.</ns2:reportingPersonName>
<ns2:citizenshipOrOrganization>DE</ns2:citizenshipOrOrganization>
<ns2:reportingPersonBeneficiallyOwnedNumberOfShares>
<ns2:soleVotingPower>253438.0</ns2:soleVotingPower>
<ns2:sharedVotingPower>0.0</ns2:sharedVotingPower>
<ns2:soleDispositivePower>253438.0</ns2:soleDispositivePower>
<ns2:sharedDispositivePower>0.0</ns2:sharedDispositivePower>
</ns2:reportingPersonBeneficiallyOwnedNumberOfShares>
<ns2:reportingPersonBeneficiallyOwnedAggregateNumberOfShares>253438.0</ns2:reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<ns2:aggregateAmountExcludesCertainSharesFlag>N</ns2:aggregateAmountExcludesCertainSharesFlag>
<ns2:classPercent>0.9</ns2:classPercent>
<ns2:typeOfReportingPerson>HC</ns2:typeOfReportingPerson>
</ns2:coverPageHeaderReportingPersonDetails>
<ns2:items>
<ns2:item1>
<ns2:issuerName>INFLECTION POINT ACQUISITION CORP. III</ns2:issuerName>
<ns2:issuerPrincipalExecutiveOfficeAddress>167 Madison Avenue Suite 20 #1017 New York NY 10016</ns2:issuerPrincipalExecutiveOfficeAddress>
</ns2:item1>
<ns2:item2>
<ns2:filingPersonName>JPMORGAN CHASE &amp; CO.</ns2:filingPersonName>
<ns2:principalBusinessOfficeOrResidenceAddress>383 Madison Avenue, New York, NY 10179</ns2:principalBusinessOfficeOrResidenceAddress>
<ns2:citizenship>DE</ns2:citizenship>
</ns2:item2>
<ns2:item3>
<ns2:notApplicableFlag>N</ns2:notApplicableFlag>
<ns2:typeOfPersonFiling>HC</ns2:typeOfPersonFiling>
</ns2:item3>
<ns2:item4>
<ns2:amountBeneficiallyOwned>253438</ns2:amountBeneficiallyOwned>
<ns2:classPercent>0.9</ns2:classPercent>
<ns2:numberOfSharesPersonHas>
<ns2:solePowerOrDirectToVote>253438</ns2:solePowerOrDirectToVote>
<ns2:sharedPowerOrDirectToVote>0</ns2:sharedPowerOrDirectToVote>
<ns2:solePowerOrDirectToDispose>253438</ns2:solePowerOrDirectToDispose>
<ns2:sharedPowerOrDirectToDispose>0</ns2:sharedPowerOrDirectToDispose>
</ns2:numberOfSharesPersonHas>
</ns2:item4>
<ns2:item5>
<ns2:notApplicableFlag>N</ns2:notApplicableFlag>
<ns2:classOwnership5PercentOrLess>Y</ns2:classOwnership5PercentOrLess>
</ns2:item5>
<ns2:item6>
<ns2:notApplicableFlag>N</ns2:notApplicableFlag>
<ns2:ownershipMoreThan5PercentOnBehalfOfAnotherPerson>Not Applicable</ns2:ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
</ns2:item6>
<ns2:item7>
<ns2:notApplicableFlag>N</ns2:notApplicableFlag>
<ns2:subsidiaryIdentificationAndClassification>J.P. Morgan Securities LLC</ns2:subsidiaryIdentificationAndClassification>
</ns2:item7>
<ns2:item8>
<ns2:notApplicableFlag>N</ns2:notApplicableFlag>
<ns2:identificationAndClassificationOfGroupMembers>Not Applicable</ns2:identificationAndClassificationOfGroupMembers>
</ns2:item8>
<ns2:item9>
<ns2:notApplicableFlag>N</ns2:notApplicableFlag>
<ns2:groupDissolutionNotice>Not Applicable</ns2:groupDissolutionNotice>
</ns2:item9>
<ns2:item10>
<ns2:notApplicableFlag>N</ns2:notApplicableFlag>
<ns2:certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</ns2:certifications>
</ns2:item10>
</ns2:items>
<ns2:signatureInformation>
<ns2:reportingPersonName>JPMORGAN CHASE &amp; CO.</ns2:reportingPersonName>
<ns2:signatureDetails>
<ns2:signature>Rachel Tsvaygoft</ns2:signature>
<ns2:title>Vice President</ns2:title>
<ns2:date>11/04/2025</ns2:date>
</ns2:signatureDetails>
</ns2:signatureInformation>
</ns2:formData>
</ns2:edgarSubmission>
