The Top 50 AI companies

Builds the Claude models and Claude Code.

The steepest climb of the year: $183B to $965B in two rounds, and Claude is the default model on our radar.

Series H · $65B at $965B · led by Altimeter, Dragoneer, Greenoaks, Sequoia · May 2026

On the radar →Source 1 ↗Source 2 ↗

Builds the GPT models and ChatGPT.

Raised the largest private round on record, $122B committed, with Amazon, Nvidia and SoftBank behind it.

Funding round · $122B at $852B · led by SoftBank, a16z, D.E. Shaw · Mar 2026

On the radar →Source ↗

Data and AI platform for building on a company's own data.

A $190B data and AI platform with a revenue run rate above $7B; most enterprise AI runs on top of something like it.

Funding round · $5B at $190B · led by Coatue · Aug 2026

Revenue run rate above $7B (Aug 2026).

On the radar →Source ↗

Builds the Grok models.

A $20B Series E in January to keep building the Colossus clusters.

Series E · $20B · led by Valor, Fidelity, QIA · Jan 2026

On the radar →Source ↗

Makes the Devin coding agent.

With Cursor now part of SpaceX, Cognition is the largest independent coding-agent company: $26B to $48B in four months.

Series E · $2B at $48B · led by a16z, Accel · Sep 2026

Run-rate revenue of almost $900M, up from $492M in May (company).

On the radar →Source ↗

Builds open and commercial language models.

Europe's frontier lab: €3B led by Samsung, pitched as sovereign AI for European companies and governments.

Series D · $3.58B at $24.4B · led by Samsung · Sep 2026

On the radar →Source ↗

Builds customer-service agents for large companies.

The largest round for an application company this year, $950M, on more than $150M ARR in eight quarters.

Funding round · $950M at $15.8B · led by Tiger Global, GV · May 2026reportedly

Over $150M ARR within eight quarters (May 2026).

On the radar →Source ↗

AI platform for law firms and in-house legal teams.

Two rounds this year ($11B, then $15.5B) and the clearest proof that vertical AI can be very big.

Funding round · $550M at $15.5B · led by Diffusion, Lightspeed · Sep 2026

Over 3,000 customers; ARR reportedly above $400M (Sep 2026).

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Builds web apps from a chat prompt.

Doubled its valuation in eight months on $500M of run-rate revenue; the fastest-growing app builder.

Series C · $400M at $13.3B · led by Menlo, Scaleup Europe Fund · Aug 2026

$500M annualized revenue (Jun 2026).

On the radar →Source ↗

AI answer engine with cited sources.

Revenue reportedly tripled this year, and Nvidia is reportedly in talks to invest at more than $30B.

Funding round · $200M at $20B · Sep 2025reportedly

Annualized revenue reportedly above $750M (Aug 2026).

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Hires domain experts to produce training data for AI labs.

The labs' spending on expert data shows up here: over $2B in annualized gross revenue, reportedly.

Series C · $350M at $10B · led by Felicis · Oct 2025

Over $2B annualized gross revenue, per the CEO (mid-2026, reportedly).

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Builds and runs AI data centers and an AI cloud.

Tripled to about $30B in a year as the labs race for power and capacity.

Funding round · $3B at $30B · led by Atreides, Valor · Sep 2026reportedly

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Frontier lab behind Tinker, a fine-tuning service, and the open-weight Inkling model.

Now selling a product with over $100M in run-rate revenue (reportedly), and in talks at $40B or more.

Seed · $2B at $12B · led by a16z · Jul 2025

Over $100M revenue run rate (Sep 2026, reportedly).

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AI voice: speech, dubbing, music and voice agents.

The default voice layer for AI apps, with more than $330M ARR at the end of 2025.

Series D · $500M at $11B · led by Sequoia · Feb 2026

ARR above $330M (end of 2025).

On the radar →Source ↗

Builds and deploys apps from natural language.

Over 50M users and a stated target of $1B run-rate revenue by year end.

Funding round · $400M at $9B · Mar 2026

Over 50M users (Mar 2026).

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Wafer-scale AI chips and a fast inference cloud.

Nearly tripled to about $23B in four months as fast inference became a selling point.

Series H · $1B at $23B · led by Tiger Global · Feb 2026

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Inference and custom-model tooling for enterprises.

$1.5B Series D at $17.5B: companies want models tuned on their own data, served fast.

Series D · $1.5B at $17.5B · led by Atreides, Index, TCV · Jul 2026

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Infrastructure for running AI models in production.

About $600M in annualized revenue in Q1 and a $13B valuation; reportedly in talks near $26B.

Series F · $1.5B at $13B · led by Altimeter, Conviction, Spark · Jun 2026

About $600M annualized revenue (Q1 2026, per The Information).

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Training data and reinforcement-learning data for AI labs.

Bootstrapped to over $1B in revenue selling data to the labs.

$1.2B revenue in 2024 (Bloomberg).

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AI medical search engine for clinicians.

Used by a large share of US doctors, with about $300M in annualized revenue reportedly.

Series D · $250M at $12B · led by Thrive, DST · Jan 2026

About $300M annualized revenue and 860k US clinicians (Jul 2026, reportedly).

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Builds general-purpose humanoid robots.

The highest-valued humanoid company at $39B, with BMW as its anchor customer.

Series C · $1B at $39B · led by Parkway Venture Capital · Sep 2025

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Ilya Sutskever's research lab, building safe superintelligence.

Nvidia reportedly committed $5B in July as SSI moved to Nvidia's Vera Rubin platform.

Strategic · $5B · led by Nvidia · Jul 2026reportedly

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Builds one AI model that can control many kinds of robot.

Tripled to over $14B in January with SoftBank leading.

Series C · $1.4B at $14B · led by SoftBank · Jan 2026

About $30M revenue in 2025 (company).

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AI search and assistant across a company's internal apps.

Crossed $300M ARR as companies consolidate AI spending onto fewer tools.

Series F · $150M at $7.2B · led by Wellington · Jun 2025reportedly

$300M ARR (May 2026).

On the radar →Source ↗

Builds chips and systems specialised for running AI models.

Valuation doubled to $21B in a month on reported orders for its inference chips.

Funding round · $700M at $21B · led by Jane Street · Aug 2026

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Durable execution for long-running agents and workflows.

Agents need to survive crashes and retries; Temporal's valuation went from $5B to $12.55B this year.

Series E · $550M at $12.6B · led by Lightspeed · Sep 2026

On the radar →Source ↗

Postgres backend with auth, storage and vector search.

The backend most AI app builders generate code for; raised again from GIC.

Funding round · $150M · led by GIC · Sep 2026

On the radar →Source ↗

Consumer agent that books, buys and calls for you over SMS.

Went from $2.5B to $10B in about a month, the fastest step-up we tracked.

Series C · $1B at $10B · led by Sequoia, Benchmark, Coatue · Sep 2026

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Builds general-purpose AI models that control robots.

The research leader in robot foundation models; reportedly in talks at $11B or more.

Series B · $600M at $5.6B · led by CapitalG · Nov 2025

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Full-stack AI cloud: compute, data centres and power.

Europe's biggest AI cloud raise, $2B at $14.6B, backed by Nvidia, Dell and Nokia.

Series C · $2B at $14.6B · led by Aker, 8090 Industries · Mar 2026

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Builds the Kimi models.

China's most valuable open-model lab, at $20B (reportedly) after Kimi's open releases took off.

Funding round · $2B at $20B · led by Long-Z (Meituan) · May 2026reportedly

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Models and agent tools for enterprises that need to keep data private.

About $240M ARR and reportedly in advanced talks for a $2–3B Series E at $20B.

Funding round · $100M at $7B · Sep 2025

About $240M ARR (end of 2025).

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AI cloud for training and serving open models.

$800M at $8.3B, up 2.5x; it moved from Assess to Trial on our radar this month.

Series C · $800M at $8.3B · led by Aramco Ventures · Jul 2026

On the radar →Source ↗

Coding agents for enterprise engineering teams.

Went from $1.5B to $5B in five months selling agents to large engineering orgs.

Funding round · $200M at $5B · Sep 2026

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Writes clinical notes from doctor-patient conversations.

The leading AI scribe in large health systems, at $5.3B.

Series E · $300M at $5.3B · led by a16z · Jun 2025

Over $100M ARR (mid-2025, reportedly).

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Enriches sales data and automates outreach with AI.

More than 17,000 customers and a $7.1B valuation in September.

Series D · $115M at $7.1B · led by Wellington · Sep 2026

More than 17,000 customers (Sep 2026).

On the radar →Source ↗

Generates songs from text prompts.

More than doubled to $5.4B in six months while still fighting copyright suits.

Series D · $400M at $5.4B · led by Bond · Jun 2026

$200M annual revenue (Nov 2025).

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AI video generation and world models.

$315M at $5.3B, with Nvidia, Adobe and AMD all investing.

Series E · $315M at $5.3B · led by General Atlantic · Feb 2026

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AI agents for customer service across chat, email and voice.

Sierra's main rival in support agents, with Hertz and Chime as customers.

Series D · $250M at $4.5B · led by Coatue, Index · Jan 2026

On the radar →Source ↗

AI platform for lawyers.

Harvey's fastest-growing challenger: 800 firms and a $5.55B valuation.

Series D · $550M at $5.55B · led by Accel · Mar 2026

800 law firms and legal teams (Mar 2026).

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Web search API built for AI agents.

Search for agents became a category: Exa tripled to $2.2B in eight months.

Series C · $250M at $2.2B · led by a16z · May 2026

Over 5,000 companies and 400,000 developers (May 2026).

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AI agents for property management and healthcare operations.

$350M at $4B, one of the biggest bets on agents doing back-office work.

Funding round · $350M at $4B · Sep 2026

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Crowdsourced model leaderboard and paid model evaluations.

The leaderboard every lab cites; nearly doubled to $3.1B in ten months.

Series B · $200M at $3.1B · led by Lightspeed, Khosla · Oct 2026

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Offensive security using swarms of AI agents to find weaknesses.

Above $2.5B about seven months out of stealth; AI-native security is now its own category.

Series B · $255.5M at $2.5B · led by a16z, Accel · Oct 2026

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Generates presentations, websites and social posts.

Profitable at $100M ARR with 70M users, without needing a 2026 round.

Series B · $68M at $2.1B · led by a16z · Nov 2025

$100M ARR and 70M users (Nov 2025).

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AI video with avatars, mostly for corporate training.

$200M at $4B in January; the enterprise side of AI video.

Series E · $200M at $4B · led by GV · Jan 2026

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Evals and observability for AI products.

The evals tool used by Notion, Replit and Cloudflare; $800M valuation in February.

Series B · $80M at $800M · led by ICONIQ · Feb 2026

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AI code review on pull requests.

More AI-written code means more review; CodeRabbit raised $143M in August.

Series C · $143M at $1.5B · led by Atomico, Smash Capital · Aug 2026reportedly

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AI meeting notes, growing into team software.

$125M at $1.5B as it moves from a personal notetaker to a team product.

Series C · $125M at $1.5B · led by Index Ventures · Mar 2026

On the radar →Source ↗

Security and governance for AI agents inside enterprise systems.

$125M Series C to secure the agents companies are now deploying.

Series C · $125M · led by Norwest · Aug 2026

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