Victoria Bazir
The private AI sector is growing at an unprecedented rate, drawing massive valuations and significant investor interest. Recent data reveals the 15 most valuable private AI startups, showcasing dramatic differences in their business models, revenue streams, and growth trajectories. Some companies have proven revenue engines, while others are valued almost entirely on future potential.
OpenAI Leads the Pack
According to trader Deedy's recent analysis, OpenAI sits at the top with a $500 billion valuation.
Since its founding in 2015, the company has built a $12 billion annual revenue base with roughly 100% year-over-year growth. The 41x revenue multiple reflects widespread enterprise adoption and ChatGPT's integration across multiple industries.
xAI and Anthropic Show Explosive Growth
xAI has reached a $200 billion valuation despite launching only in 2023 and projecting around $200 million in revenue. Its nearly 1000x revenue multiple signals heavy speculation on future returns. Anthropic has climbed to $183 billion, powered by $5.5 billion in revenue and over 500% growth, making it OpenAI's closest competitor.
Databricks, Figure AI, and Safe Superintelligence
Databricks has crossed the $100 billion mark thanks to its AI-enhanced data infrastructure, though it's not purely an AI company. Figure AI and Safe Superintelligence carry valuations of $39 billion and $32 billion respectively, despite generating no reported revenue. These valuations reflect strong investor belief in robotics and AI safety research.
Cursor, Scale AI, and Perplexity
Cursor (Anysphere) is now valued at $30 billion, supported by over $500 million in revenue and more than 500% growth. Scale AI, essential for data labeling and model training, holds a $29 billion valuation with approximately $870 million in revenue and 130% growth. Perplexity, at $20 billion, generates around $148 million in revenue with 135% growth, benefiting from strong demand for AI-powered search.
Mistral AI and Rising Contenders
Europe-based Mistral AI carries a $14 billion valuation with revenues exceeding $100 million. Cognition, valued at $10.2 billion, reports explosive 7200% year-over-year growth from its Windsurf coding tool. MidJourney, which hasn't raised outside capital, maintains an implied $10 billion valuation backed by approximately $500 million in revenue. Glean, Cohere, Harvey, and Glean round out the list with valuations ranging from $5 billion to $8 billion, each carving out specialized niches in AI applications.
Victoria Bazir
