U.S. and Chinese AI giants are preparing for initial public offerings (IPOs), shifting competition from technology to the stock market. In the U.S., OpenAI and Anthropic have submitted confidential IPO filings to the U.S. Securities and Exchange Commission (SEC). Anthropic, operator of “Claude,” submitted its IPO registration documents to the SEC on June 1, with the offering scale, exchange, and listing date undisclosed. OpenAI, operator of ChatGPT, submitted its confidential IPO documents a week later, on June 8. The New York Times reported OpenAI is considering postponing its IPO to next year due to stock market instability and potential loss of company value. OpenAI aims for an enterprise value of up to 1 trillion dollars (approximately 1,400 trillion Korean won), but advisors have suggested lowering the valuation for a 2026 listing or waiting until 2027. CEO Sam Altman opposes lowering the valuation for an early listing. Anthropic’s enterprise value was 965 billion dollars as of May 28, compared to OpenAI’s 852 billion dollars. Lise Buyer of Class V Group said the first company to list sets the “competitive landscape.” In China, DeepSeek and Moonshot AI are preparing for listings on the Shanghai and Hong Kong stock exchanges, respectively.