[Overview of AI Large Model Companies Planning IPOs in China and the U.S.: OpenAI, Anthropic Expected to Go Public by Q4 2026, DeepSeek Preparing for A-Share Listing] BlockBeats News, July 17: AI large model companies in China and the U.S. are accelerating their plans to enter the capital markets. Companies such as Anthropic, OpenAI, DeepSeek, Dark Side of the Moon, and StepStar are in the stages of filing documents, preparing for IPOs, or conducting early evaluations, with planned listing locations spanning U.S. stocks, A-shares, and Hong Kong stocks. BlockBeats has compiled the following list of companies lining up for IPOs: **Category 1: Companies That Have Filed Documents and Are Closer to Listing** These companies have secretly submitted S-1 documents, making the most progress toward listing. - Anthropic secretly filed its S-1 on June 1, aiming to list on U.S. stocks, with the earliest possible IPO in Q4 2026. The company’s latest post-money valuation is approximately ¥965 billion, with its latest funding round raising ¥65 billion and cumulative funding reaching ¥132 billion. - OpenAI secretly filed its S-1 on June 8, also planning to list on U.S. stocks, with the earliest IPO timeline set for Q4 2026. The company’s latest post-money valuation is approximately ¥852 billion, with its latest funding round raising ¥122 billion and cumulative funding reaching ¥180 billion. **Category 2: Companies That Have Initiated Preparations or Are in the Evaluation Stage** These companies have not yet entered the public offering stage but have started IPO preparations, engaged investment banks, or are rumored to have filed documents. - DeepSeek has initiated preparations for an A-share listing, with its latest pre-money valuation at approximately ¥710 billion. Its latest funding round raised ¥7 billion, with cumulative funding also at ¥7 billion. The company plans to submit materials by the end of 2026 and go public in 2027. - Dark Side of the Moon is conducting early evaluations for a Hong Kong stock listing and has engaged investment banks. The company’s latest post-money valuation is approximately ¥200 billion, with its latest funding round raising ¥20 billion and cumulative funding exceeding ¥50 billion. No clear IPO timeline has been set yet. - StepStar is rumored to have secretly submitted documents for a Hong Kong stock listing. Its latest valuation is approximately ¥120 billion, with its latest funding round raising nearly ¥25 billion and cumulative funding exceeding ¥30 billion. The specific IPO timeline is yet to be determined. **Category 3: Companies That Have Expressed Intentions but Have Not Officially Started** These companies have announced IPO plans but have not yet entered the substantive filing stage. - Baichuan Intelligence has expressed intentions to go public, but related procedures have not yet started. The planned listing location is still undecided. The company’s latest valuation is approximately ¥200 billion, with its latest funding round raising ¥50 billion and cumulative funding reaching ¥75 billion. It is expected to begin IPO preparations in 2027. - Perplexity has also not officially started the IPO process but plans to list on U.S. stocks. Its latest valuation is approximately ¥210 billion, with its latest funding round raising ¥2 billion and cumulative funding reaching ¥17 billion. The company plans to go public in 2028.