AI giants DeepSeek, OpenAI, Anthropic and Moonlight Dark gear up for IPOs
China‑based AI startup DeepSeek has begun preparing for a domestic IPO, targeting a valuation of over ¥4.8 trillion (≈ ¥11 trillion) and seeking a new financing round of at least ¥100 billion. The company is working with accountants and banks to file a prospectus by the end of 2026, aiming for a listing in early 2027.
In the United States, OpenAI and Anthropic have each filed S‑1 paperwork, signalling intent to go public between late 2026 and 2027. OpenAI is said to be chasing a valuation north of €1 trillion, while Anthropic’s filing suggests an October‑2026 timeframe and a market‑priced probability of about 5‑6 percent.
Hong Kong‑focused startup Moonlight Dark (月之暗面) is negotiating a pre‑IPO round that would value the firm at $500 billion before it seeks a Hong Kong listing, potentially within six months.
Separately, the U.S. IPO market this year is being led by biotech firms, whose strong performance is drawing investor attention away from the highly anticipated AI listings. Analysts note that the surge in biotech IPO returns may affect timing and pricing for the pending AI offerings.
OpenAI also posted a job ad hinting at an internal ad‑network effort, though the reference to publisher‑side responsibilities was later removed.