Ranked by the valuation set at the most recent funding round.
Anthropic leads with $965B, ahead of OpenAI ($852B) and xAI ($230B).
A valuation is the price of the last round, not a market price: it reflects what one investor paid for one slice at one moment. The funding timeline on each company page shows how quickly those marks have been moving.
| # | Name | Valuation |
|---|---|---|
| 01 | Anthropic | $965B |
| 02 | OpenAI | $852B |
| 03 | xAI | $230B |
| 04 | DeepSeek | $50B |
| 05 | Z.ai (Zhipu) | $39B |
| 06 | MiniMax | $37B |
| 07 | Mistral AI | $14B |
