A piece of AI: How much is it worth?

Growing use cases of generative artificial intelligence (Gen AI) have driven valuations of leading global and Indian AI companies to significant heights, driven by investor enthusiasm for the technology’s transformative potential. ChatGPT, an AI chatbot developed by OpenAI, has reached 100 million users just two months after its launch.

Retail investors are now seeing AI as a promising investment frontier, with no significant potential for gains by investing in leading companies in the field. Nvidia, the maker of AI chips, has seen its stock triple over the past year, making it one of the world’s most valuable companies with a market capitalization of more than $3 trillion.

Several other AI-related companies, including Broadcom, Meta Platforms, Taiwan Semiconductor, Qualcomm and Applied Materials, have experienced gains of between 50% and 80% over the past year. About 30 global AI-related stocks are currently valued at more than $100 billion. ET has compiled a list of the top 20 AI-related companies, which have gained the most over the past year, as part of the Alliance Global Artificial Intelligence Fund. Many of these sophisticated companies are not yet listed. Here is a list of those with valuations based on their latest funding round.

Leading global and Indian unlisted AI companies

OpenAI: OpenAI, the creator of ChatGPT, is the world’s largest AI company, valued at $80 billion. Backed by technology leader Microsoft and venture capital firm Y Combinator, OpenAI has raised a total of $11.3 billion in funding, with its last Series E round held on April 12.

xAI: Elon Musk’s AI startup xAI, founded in March 2023, is the second most valuable AI startup globally with a valuation of $18 billion. The company’s last Series B funding round was backed by investors including Andreessen Horowitz and Sequoia Capital.

ScaleAI: San Francisco-headquartered Scale AI has achieved a $13 billion valuation. The startup has recently raised $1 billion from investors like Excel, Meta, Nvidia and Ama.

Coher: Toronto-based enterprise-focused AI platform Coher is valued at $5 billion after raising $450 million in a June funding round from investors including Nvidia, Salesforce Ventures and Cisco.

Anthropic: Amazon-backed AI startup Anthropic has hit $4 billion in valuation. In May, the tech giant invested $2.75 billion in the company

Stability AI: Generative AI startup Stability AI, known for its text-to-image model Stable Diffusion, is now valued at $4 billion. The cashstrapped company recently raised $80 million, according to reports

Confused AI: AI-powered research and conversational search engine startup Perplexity AI has hit $3 billion in valuation. Japanese technology investor Softbank Group is investing between $10 million and $20 million in the startup, according to multiple reports.

Adept AI: The San Francisco-based startup building AI powered agents to automate various software-based tasks is valued at $1 billion. In March, the company announced that it had raised $350 million in a Series B round, bringing total funding raised to nearly $400 million.

Crutrim A.I. Mobility major Ola cofounder Bhavish Aggarwal’s Crutrim became the first homegrown AI startup to achieve unicorn status after raising $50 million at a $1 billion valuation from AI Matrix Partners India.

Sarvam AI: Chennai-based startup SarvaAI, which develops GenAI models, is valued at $110 million after $41 million from Lightspeed, Peak XV and Khosla Ventures.