DeepSeek, Moonshot, GigaAI: Why China's AI Startups Are Rushing For IPO

China's leading artificial intelligence (AI) startups are accelerating plans to go public, signalling the beginning of what could become the country's biggest AI listing cycle.

Companies including GigaAI, Moonshot AI and DeepSeek are moving towards initial public offerings (IPOs) as they seek fresh capital to expand computing infrastructure, fund research and strengthen their position in an increasingly competitive global AI market.

The developments come as AI companies worldwide race to commercialise increasingly powerful models while competing for investors, talent and computing capacity.

US-based rivals OpenAI and Anthropic are also preparing for eventual public market debuts.

Capital Becoming Critical For Next Phase

The rush towards public markets reflects the enormous financial demands of developing frontier AI systems. Training advanced models requires significant investments in data centres, specialised chips and engineering talent.

DeepSeek is seeking additional private funding after completing a record financing round earlier this year, while simultaneously preparing for an IPO filing that could pave the way for a 2027 listing, as per a report by Bloomberg (BBG).

The company is also expanding its computing capacity as it pursues more ambitious AI research.

Similarly, Moonshot AI is wrapping up a funding round that could value it at more than $30 billion before its proposed Hong Kong listing, while GigaAI is nearing a fresh funding round that would value the startup at around $3 billion, as per BBG.

Startups Leading China's IPO Race

Among the companies moving towards public listings, GigaAI appears to be the closest to launching an IPO. The Beijing-based startup, which focuses on AI "world models", is discussing a Hong Kong listing as early as this year.

Founder Huang Guan believes the company could become the first world model startup globally to go public. "Globally, we'll be the first to IPO among world model startups," Guan said, as per BBG.

Moonshot AI has reportedly begun the shareholder approval process for a Hong Kong listing that could take place within six months.

The company accelerated its plans after the strong reception to its latest Kimi K3 model and rapid growth in annual recurring revenue, per BBG.

DeepSeek, meanwhile, is preparing for a mainland China listing, with an IPO filing expected as early as this year, although its market debut is targeted for 2027, Bloomberg reported.

AI IPOs Becoming A Global Trend

The race to public markets is no longer confined to China. Across the US, some of the world's most valuable artificial intelligence companies are also preparing to list as investor appetite for AI-driven businesses continues to grow.

Anthropic confidentially filed for a US IPO in June 2026, becoming one of the first frontier AI companies to formally begin the listing process.

Days later, OpenAI also confirmed it had confidentially filed for an initial public offering, although the ChatGPT-maker said it had not yet decided on the timing of its debut.

OpenAI is targeting a valuation of up to $1 trillion, underscoring the scale of investor interest in AI companies, as per BBG.

AI Breakthroughs Strengthening Investor Confidence

The planned listings also reflect growing confidence in China's AI capabilities.

Moonshot's latest AI model challenged established industry perceptions, while DeepSeek attracted global attention after demonstrating that advanced AI systems could be built more efficiently despite US export restrictions on advanced hardware.

GigaAI, meanwhile, is focusing on world models for robotics, autonomous driving and humanoid robots, positioning itself in an emerging segment of AI applications.

Beijing's Policy Support Adding Momentum

China's leading AI startups appear to view IPOs not merely as fundraising exercises but as strategic milestones in the race to compete with global technology leaders.

The proposed listings of OpenAI, Anthropic and China's leading AI startups suggest that public markets are becoming the next battleground for companies seeking capital.

Hence, government backing is another factor encouraging Chinese AI firms to scale rapidly.

Beijing has reportedly identified embodied AI and humanoid robotics as national priorities, while President Xi Jinping has publicly supported the country's advances in AI and called for a more open global technological order.

Such policy support is providing companies with greater confidence to pursue expansion and public listings.