Despite recent jumps in valuation for generative artificial intelligence company OpenAI and Elon Musk’s aerospace company SpaceX, ByteDance is still the highest-valued unicorn worldwide according to CB Insights’ The Complete List of Unicorn Companies tracker with a valuation of $225 billion.
In January 2024, OpenAI ranked tenth on the list and has since more than doubled its internal valuation, while the rest of the top 8 saw only minor movement since the beginning of the year.
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The remainder of the top list is made up of corporations from the apparel (Shein and Fanatics), fintech (Stripe and Revolut) and software (Databricks) sectors.
While OpenAI and Databricks are the only dedicated AI companies, ByteDance has also been focusing on generative artificial intelligence recently. Following suit with Western counterparts like Meta or Alphabet, it launched a suite of large language models under the brand name Doubao in May of this year, according to media reports. This will most likely further cement its standing as the highest-valued unicorn worldwide.
The term unicorn describes companies that are not traded on any stock exchange and at…
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