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The AI Stack

The complete tracker for AI companies from seed to IPO. OpenAI, Anthropic, xAI, Mistral, Cohere, and every major foundation model, AI infrastructure, and AI application company.

135
Companies Tracked
$292B
Total Funding Raised
51
Pre-IPO Companies
16
S-1 Filed
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Top AI Companies
Ranked by valuation — 135 companies tracked
1
OpenAI S-1 Filed

OpenAI is valued at $920B — the world's most valuable AI company, backed by over $65B in funding. The company recently restructured as a Public Benefit Corporation to support its mission of developing safe AGI.

Valuation: $920.0B Raised: $75.4B Public
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2
Anthropic S-1 Filed

Anthropic builds Claude — one of the world's leading AI systems. Valued at $380B with $18.5B raised. Track IPO readiness, funding rounds, and timeline.

Valuation: $380B Raised: $68.0B Public
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3
Palantir Technologies S-1 Filed

Data analytics and AI platform for government intelligence and enterprise operations.

Valuation: $312B Raised: $2.7B Public
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4
ByteDance public

Chinese tech giant behind TikTok and Douyin. As of May 2026, ByteDance remains private while navigating the legal aftermath of US divestiture legislation and aggressively pivoting toward generative AI integration across its content platforms.

Valuation: $268B Raised: $8B Public
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5
xAI private

Elon Musk AI company building Grok chatbot and Memphis supercomputer. $12B raised. Massive search volume for xAI IPO. Major AI chatbot player.

Valuation: $125.0B Raised: $33B Series E
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6
DeepSeek Pre-IPO

Chinese AI lab that disrupted the industry with open-source models. Massive global press coverage. DeepSeek stock and DeepSeek IPO searches rising rapidly.

Valuation: $115.0B Raised: $9.5B Late Stage Private / Strategic
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7
CoreWeave S-1 Filed

GPU-specialized cloud computing provider for AI workloads.

Valuation: $35B Raised: $20.1B Public
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8
AMI Labs pre-IPO

World models research lab founded by Yann LeCun — develops autonomous AI systems that understand physical and social reality.

Valuation: $70.0B Raised: 11700000000 Series D+
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9
Cognichip pre-IPO

Semiconductor AI platform using physics-informed Artificial Chip Intelligence (ACI®) to reduce chip design costs 75% and timelines 50%.

Valuation: $62.1B Raised: $9.2B Series D+
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10
Safe Superintelligence Pre-IPO

Ilya Sutskever new venture after leaving OpenAI. $1B+ raise at $30B valuation. Extremely high profile. Safe Superintelligence IPO will be major event.

Valuation: $62.0B Raised: $7.7B Series B
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11
Gimet Labs S-1 Filed

Applied AI research lab translating frontier AI capabilities into production-ready enterprise products.

Valuation: $60.0B Raised: $2.65B Series H
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12
Perplexity AI Pre-IPO

Perplexity AI is the AI-powered answer engine replacing traditional search with cited, conversational results. Valued at $45B with $4.5B raised, Perplexity processes over 1B queries monthly and has become a primary competitor to Google and OpenAI in the search space.

Valuation: $50.0B Raised: 5000000000 Series H
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13
Perplexity AI S-1 Filed

Perplexity AI is the AI-powered search engine providing instant, cited answers to complex questions — the fastest-growing consumer AI product in history with 10M+ monthly active users. Valued at $20B with $1.7B raised, Perplexity processes 300M+ queries monthly and is transforming how people find information online. Major AI IPO candidate competing with Google and Bing as AI-native search becomes the dominant paradigm.

Valuation: $45.0B Raised: $1.65B Series H
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14
Sygaldry Technologies pre-IPO

Quantum-accelerated AI server company reducing AI training & inference costs through hybrid quantum-classical hardware for data centers.

Valuation: $35.0B Raised: $7.1B Series C
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15
Nexthop AI pre-IPO

AI networking infrastructure for hyperscale data centers — intelligent fabric and routing for massive AI training clusters.

Valuation: $21.5B Raised: $9.45B Series D+
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16
Groq Pre-IPO

Groq is the AI inference accelerator company building custom silicon for large language model inference — the fastest AI chip in commercial deployment. Valued at $12.5B with $1B+ raised, Groq processes billions of tokens daily and has signed major enterprise and government contracts. The LPU architecture delivers 10x the throughput of GPU-based alternatives — top semiconductor IPO candidate for 2026-2027.

Valuation: $42.0B Raised: $4.2B Series G
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17
Axiom Math pre-IPO

Building verified AI through mathematical superintelligence — proving code is correct and eliminating AI hallucinations at the source.

Valuation: $31.2B Raised: $3.61B Series D+
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18
Mistral AI Pre-IPO

Europe most valuable AI startup. French AI lab with open-source models (Mistral 7B, Mixtral). European AI sovereignty narrative driving search. Series C at $14B in 2025.

Valuation: $35.0B Raised: $4.1B Series F
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19
Cohere Pre-IPO

Enterprise LLM specialist. Command R series models for business use. Included in Hiive institutional fund roster. Growing Cohere IPO searches as enterprise AI adoption accelerates.

Valuation: $32.0B Raised: $6.5B Series I
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20
Legora pre-IPO

AI-native legal platform — automates legal research, contract review, and due diligence for law firms and legal teams.

Valuation: $31.4B Raised: $5.4B Series D+
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IPO Watchlist
Expected to IPO in next 12-24 months
OpenAI S-1 Filed — Imminent
OpenAI is valued at $920B — the world's most valuable AI company, backed by over $65B in funding. The company recently restructured as a Public Benefit Corporation to support its mission of developing safe AGI.
$920.0B IPO Readiness
81
Hugging Face 12-18 months
Hugging Face is an AI/ML platform and open-source community used by 50,000+ companies for hosting and deploying machine learning models and datasets. The company remains private as of May 2026 with a $4.5B valuation from its August 2023 Series D ($235M led by Salesforce). No IPO date or S-1 filing has been announced. Investors include Google, Amazon, Nvidia, Salesforce, Intel, AMD, and IBM.
$20.0B IPO Readiness
81
Groq 18-24 months
Groq is the AI inference accelerator company building custom silicon for large language model inference — the fastest AI chip in commercial deployment. Valued at $12.5B with $1B+ raised, Groq processes billions of tokens daily and has signed major enterprise and government contracts. The LPU architecture delivers 10x the throughput of GPU-based alternatives — top semiconductor IPO candidate for 2026-2027.
$42.0B IPO Readiness
79
Palantir Technologies S-1 Filed — Imminent
Data analytics and AI platform for government intelligence and enterprise operations.
$312B IPO Readiness
78
Anthropic S-1 Filed — Imminent
Anthropic builds Claude — one of the world's leading AI systems. Valued at $380B with $18.5B raised. Track IPO readiness, funding rounds, and timeline.
$380B IPO Readiness
77
Cohere 18-24 months
Enterprise LLM specialist. Command R series models for business use. Included in Hiive institutional fund roster. Growing Cohere IPO searches as enterprise AI adoption accelerates.
$32.0B IPO Readiness
76
Perplexity AI 18-24 months
Perplexity AI is the AI-powered answer engine replacing traditional search with cited, conversational results. Valued at $45B with $4.5B raised, Perplexity processes over 1B queries monthly and has become a primary competitor to Google and OpenAI in the search space.
$50.0B IPO Readiness
75
Mistral AI 18-24 months
Europe most valuable AI startup. French AI lab with open-source models (Mistral 7B, Mixtral). European AI sovereignty narrative driving search. Series C at $14B in 2025.
$35.0B IPO Readiness
75
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Sector Pipeline
Company count by funding stage
Series A
4
Series B
15
Series C
23
Series D
16
Series E
14
Series F
10
Pre-IPO
2
Series D+
19
Public
13
Series H
5
Series G
4
series_d
3
Acquired/Licensed
1
series_c
1
Series I
1
Acquired
1
Late Stage Private / Strategic
1
PE-backed
1
Private Equity Backed
1
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Recent Funding Rounds
Latest deals in the AI sector
Observe.AI
Series D · Oct 2026
$37M
Jasper
Series B · Oct 2026
$150M
Physical Intelligence
Series C · Oct 2026
$250M
Sourcegraph
Series D · Oct 2026
$100M
Together AI
Series F · Oct 2026
$320M
Ironclad
Series G · Oct 2026
$67M
Fivetran
Series E · Oct 2026
$100M
Legora
Series D+ · Oct 2026
$500M
Lightmatter
Series D+ · Oct 2026
$500M
Midjourney
Series C · Oct 2026
$200M
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Sector Themes
Key narratives driving the AI sector in 2026
1

Foundation model consolidation driving valuation compression

2

AI inference chips becoming the new bottleneck

3

Enterprise AI agents replacing SaaS point solutions

4

Open-source models closing the capability gap

5

Multimodal AI unlocking physical world applications

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