When is the Anthropic IPO?

Reuters reports Anthropic plans to start marketing the deal in mid-October 2026 at the earliest and to complete the listing in the days before the November 3 midterm elections, on Nasdaq. The public registration statement is expected in late September. None of that is confirmed by the company, and Reuters says the timing can still move.

Is OpenAI going public in 2026?

No. Sam Altman told Fortune on September 12, 2026 that the answer is "not 2026," and CFO Sarah Friar told employees in August that OpenAI will be a public company in 2027. The company filed a confidential S-1 in June and has not named an exchange, a size or a valuation.

Has DeepSeek filed for an IPO?

No. As of mid-September 2026 DeepSeek has engaged CITIC Securities to prepare a possible Shanghai STAR Market listing and is reported to be hiring its first CFO. There is no filing, no prospectus and no approved timetable.

Which Chinese AI labs are already listed?

Z.AI, formerly Zhipu, listed in Hong Kong on January 8, 2026 as 2513.HK. Enflame Technology, an AI chip designer backed by Tencent, listed on Shanghai's STAR Market on September 11, 2026 as 688801. Moonshot AI has filed confidentially in Hong Kong. No US-listed security gives direct exposure to any of them.

How does this page decide a company has moved stage?

Only on a dated event with a named source. A report from people familiar moves a company to the stage it describes, and the event text says it is a report. A stage is not advanced on rumor, and a company is not marked listed until shares have traded.

AI IPO tracker: where every frontier lab listing stands

Updated Sep 14, 2026 · date of the newest filing or report on the board

Six AI companies are somewhere between no filing and a first trade. This page keeps one dated record per company, what moved it there, and who reported it. It changes when a filing or a report lands, not on a schedule.

The board

Company	Stage	Venue	Raise	Last move
Z.AI (Zhipu)2513.HK	Listed	Hong Kong main board	HK$4.17 billion	Sep 13, 2026
Enflame Technology688801.SS	Listed	Shanghai STAR Market	About 6.12 billion yuan	Sep 11, 2026
Anthropic	Confidential filing	Nasdaq	Up to $100 billion	Sep 13, 2026
Moonshot AI	Confidential filing	Hong Kong Stock Exchange	$3 billion to $5 billion	Sep 4, 2026
DeepSeek	No filing	Shanghai STAR Market	Not determined	Sep 14, 2026
OpenAI	Deferred	Not stated	Not stated	Sep 12, 2026

Stages run no filing, confidential filing, public filing, marketing, listed. Deferred means the company has said on the record it will not list this year. Furthest along sits at the top.

Already trading

Company	Listed	Offer price	Last price	Day	Vs offer
Z.AI (Zhipu) 2513.HK	Jan 8, 2026	HK$116.20	HK$680.00	−5.7%	+485.2%
Enflame Technology 688801.SS	Sep 11, 2026	¥142.18	¥444.97	+4.9%	+213.0%

Prices in local currency from the last completed session, as of Sep 15, 2026, 4:08 AM EDT. Vs offer is the change from the IPO price, not from the first trade. Neither company has a US listing.

Company by company

Z.AI (Zhipu)

Listed

GLM model maker, Beijing

Venue: Hong Kong main board, listed January 8, 2026
Raise: HK$4.17 billion (about $558 million) at IPO. About $5 billion follow-on announced September 13.
Valuation: About HK$55.5 billion on debut
Banks: CICC and Guotai Junan (placing agents on the follow-on)
What's next: A $5 billion follow-on is in progress. The share placement is due to complete September 16 and the zero-coupon convertible is due to issue September 18.

Record

Sep 13, 2026Announces about $5 billion of new money: up to 21.97 million H shares at HK$714, a 9.96% discount, plus 20.14 billion yuan of zero-coupon convertibles due September 2027 with a HK$892.50 conversion price. Our report.
Aug 31, 2026Interim results: revenue up 399.7% year on year, gross margin down to 26.4% from about 50%, domestic chips now a primary source of inference capacity. Our report.
Jan 8, 2026Lists on the Hong Kong main board at HK$116.20, raising HK$4.17 billion. Retail tranche oversubscribed 1,159 times. Closes up 8.43% on day one, Caixin reports.

Our coverage

Z.AI plans $5 billion raise days after Anthropic named Zhipu in Claude distillation report · Sep 13, 2026
Chinese AI lab Zhipu claims its domestic chips match Nvidia on per-token cost · Sep 4, 2026

Enflame Technology

Listed

AI chip designer, Shanghai. Tencent holds 17.95%.

Venue: Shanghai STAR Market, listed September 11, 2026
Raise: About 6.12 billion yuan ($911 million): 43.04 million shares at 142.18 yuan
Valuation: About 185 billion yuan (about $27.6 billion) at the first close, against the $9 billion sought in the offering
Banks: Not tracked here
What's next: Now the valuation benchmark the unlisted Chinese labs get measured against. Tencent-related sales were 83.79% of 2025 revenue.

Record

Sep 11, 2026Opens at 410 yuan, 188% above the 142.18 yuan offer, and closes near 430 yuan, up about 202%. Retail orders ran to 42.1 billion shares against 43.04 million on offer. Source.
Sep 2, 2026Prices the STAR Market IPO at 142.18 yuan a share to raise about 6.12 billion yuan. Source.

Anthropic

Confidential filing

Claude maker, San Francisco

Venue: Nasdaq (reported, not confirmed by either party)
Raise: Up to $100 billion (reported)
Valuation: About $2 trillion under discussion. Last priced round: $965 billion, May 2026.
Banks: Morgan Stanley, Goldman Sachs, JPMorgan, Citi
What's next: Public S-1 expected late September. Marketing mid-October at the earliest. Listing targeted for the days before the November 3 midterms.

Record

Sep 13, 2026Reuters, via Business Insider, reports Anthropic has picked Nasdaq for the listing, citing one person familiar. Neither company confirms. Our report.
Sep 11, 2026Reuters reports Nvidia is in talks to anchor the IPO with up to $10 billion. Anthropic declined to comment. Our report.
Sep 4, 2026Reuters: marketing to begin mid-October at the earliest, listing to complete days before the midterms, public registration statement not expected until late September. A $15 billion revolving credit facility comes first.
Aug 20, 2026Bloomberg reports Anthropic could make its filing public by the end of August and is sizing the raise to match or top SpaceX's $86.2 billion record. That August date slipped. Our report.
Jun 1, 2026Anthropic confidentially submits a draft S-1 to the SEC, announced by the company. Source.
May 28, 2026Closes a $65 billion Series H at a $965 billion post-money valuation, led by Altimeter, Dragoneer, Greenoaks and Sequoia.

Our coverage

Moonshot AI

Confidential filing

Kimi maker, Beijing. Alibaba and Tencent backed.

Venue: Hong Kong Stock Exchange
Raise: $3 billion to $5 billion (reported)
Valuation: $35 billion after its last round. Seeking a round at $50 billion pre-money.
Banks: Bank of America (overall coordinator); CICC, Deutsche Bank, Goldman Sachs (sponsors)
What's next: Bloomberg's sources say the deal could come as soon as this year and the size and timing can still change. No public listing document yet.

Record

Sep 4, 2026Bloomberg reports Moonshot has filed confidentially in Hong Kong and is weighing a $3 billion to $5 billion raise. Moonshot told HK01 it had nothing to disclose. Our report.
Sep 3, 2026Reuters reports a confidential Hong Kong filing targeting about $3 billion, with Goldman Sachs, Deutsche Bank and CICC on the deal.
Jul 17, 2026Releases Kimi K3, then pauses new sign-ups two days later after demand outran its compute. Our report.

Our coverage

DeepSeek

No filing

Hangzhou lab, funded by High-Flyer until 2026

Venue: Shanghai STAR Market (possible, per Reuters)
Raise: Not determined
Valuation: Round in progress near 500 billion yuan, about $74 billion. June round closed above $50 billion post-money.
Banks: CITIC Securities engaged to prepare a possible float
What's next: Aims to begin the listing process in 2026. No filing, no prospectus, no approved timetable. A STAR Market listing needs regulatory clearance.

Record

Sep 14, 2026Reuters reports DeepSeek plans to hire GL Ventures partner Yan Wentao as its first CFO, citing two people. Neither DeepSeek nor Hillhouse commented. Our report.
Sep 9, 2026Reuters reports DeepSeek hired CITIC Securities to prepare a possible STAR Market listing and aims to start the process this year.
Jun 30, 2026Closes about $7.4 billion, its first outside money, at a post-money valuation above $50 billion. Founder Liang Wenfeng put in 20 billion yuan himself.

Our coverage

DeepSeek plans first CFO hire as CITIC prepares possible Shanghai listing · Sep 14, 2026

OpenAI

Deferred

ChatGPT maker, San Francisco

Venue: Not stated
Raise: Not stated
Valuation: Last priced round: $852 billion, Q1 2026, on $122 billion raised. One derivatives venue implies about $1.6 trillion.
Banks: Not stated
What's next: CFO Sarah Friar told staff in August the company will be public in 2027. No exchange, size or valuation has been stated.

Record

Sep 12, 2026Sam Altman tells Fortune "not 2026," calling the present "an ill-advised moment to go public" because of AI safety. First time he has ruled out a year on the record. Our report.
Aug 19, 2026CFO Sarah Friar tells an all-hands OpenAI "will be a public company in 2027," sooner if the business "continues to inflect," CNBC reports.
Jun 15, 2026OpenAI files a confidential S-1 with the SEC and says timing is undecided. The New York Times reports the company is leaning toward 2027 at a valuation near $1 trillion.

Our coverage

Sam Altman says no OpenAI IPO in 2026. A derivatives market already prices the company at $1.6 trillion. · Sep 12, 2026

How to read this page

Almost everything above the listed line is sourced to people familiar with the matter, not to a filing. Each event says which. A company moves to a stage when a named outlet reports it has reached that stage, and the text keeps the word reported. Nothing is marked listed until shares have traded.

The listed rows show change from the offer price, because that is the number the next issuer's bankers are looking at. A first-day pop against a 43-million-share float, with retail orders a thousand times the offer, is a statement about the theme, not the company's numbers.

The pending Chinese names are the harder record to keep. A Hong Kong A1 filing is confidential and a STAR Market listing needs regulatory clearance that can be withdrawn late, as Ant Group's was two days before trading in 2020. The record here is what has been reported and when, which is the most a reader outside those processes can know.

Common questions

When is the Anthropic IPO?: Reuters reports Anthropic plans to start marketing the deal in mid-October 2026 at the earliest and to complete the listing in the days before the November 3 midterm elections, on Nasdaq. The public registration statement is expected in late September. None of that is confirmed by the company, and Reuters says the timing can still move.
Is OpenAI going public in 2026?: No. Sam Altman told Fortune on September 12, 2026 that the answer is "not 2026," and CFO Sarah Friar told employees in August that OpenAI will be a public company in 2027. The company filed a confidential S-1 in June and has not named an exchange, a size or a valuation.
Has DeepSeek filed for an IPO?: No. As of mid-September 2026 DeepSeek has engaged CITIC Securities to prepare a possible Shanghai STAR Market listing and is reported to be hiring its first CFO. There is no filing, no prospectus and no approved timetable.
Which Chinese AI labs are already listed?: Z.AI, formerly Zhipu, listed in Hong Kong on January 8, 2026 as 2513.HK. Enflame Technology, an AI chip designer backed by Tencent, listed on Shanghai's STAR Market on September 11, 2026 as 688801. Moonshot AI has filed confidentially in Hong Kong. No US-listed security gives direct exposure to any of them.
How does this page decide a company has moved stage?: Only on a dated event with a named source. A report from people familiar moves a company to the stage it describes, and the event text says it is a report. A stage is not advanced on rumor, and a company is not marked listed until shares have traded.

Use this data

Our figures are free to reuse in articles, newsletters, and research with attribution and a link back to this page. Current table as a file: download CSV.

Suggested citation: AIStockWire, “AI IPO tracker: where every frontier lab listing stands,” aistockwire.com/ai-ipo-tracker, data as of Sep 14, 2026. Questions about the data: support@aistockwire.com.

Record as of Sep 14, 2026. Related: ADR premium tracker, Korean AI stocks, AI Bubble Index. Not investment advice.