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Each item is one event, written from several sources, with a footnote for every fact.

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Release

StepFun releases Step 5 Preview

In September 2026 StepFun released Step 5 Preview as its new flagship foundation model. It is a sparse MoE with 600 billion total parameters, supports up to 1 million tokens of context, and is offered through the StepFun Open Platform API.

Milestone

OpenAI confidentially files for an IPO

On 8 June 2026 OpenAI confirmed it had filed confidentially for an IPO with the US SEC, against a 2025 operating loss of $20.92 billion and annualised revenue above $20 billion. The listing was later pushed to 2027.

Release

Baidu releases ERNIE 5.1

Baidu released ERNIE 5.1 on 9 May 2026, a model derived from ERNIE 5.0's pre-training with about a third of its total parameters and much lower training cost, after a preview build topped Chinese models on LMArena.

Funding

Anthropic raises $65 billion

In May 2026 Anthropic raised $65 billion at a $965 billion valuation, a Series H round that mixed new capital with $15 billion of earlier hyperscaler commitments, including $5 billion from Amazon.