In the last 5 years, corporate interest in artificial intelligence (AI) has exploded, with company valuations in the space growing massively.
AI technology has applications across numerous sectors, from training robots to personalizing shopping recommendations. Machine learning (ML) algorithms are even being trained to rapidly detect Covid-19, as well as to help physicians plan treatment.
Using CB Insights data, we visualized the top 10 most valuable private AI companies in the world.
Our analysis only includes VC-backed companies that are currently active and privately held. Data is as of 10/27/2020. We exclude subsidiaries and majority-owned startups.
Please click to enlarge.
We define AI to include companies selling AI SaaS, using AI algorithms to develop their core products, developing hardware to support AI workloads, or providing AI consultancies.
- Viral products like TikTok have propelled parent company ByteDance to become not only the highest valued AI company here, but also the most valuable unicorn in the world. We dig into the company’s “secret sauce,” as well as its future plans, in this report.
- Half of the companies in our graphic have raised funding rounds during Covid-19: robotic process automation (RPA) provider UiPath, endpoint security platform Tanium, ByteDance, personalized cancer care company Tempus, and agriculture biotech developer Indigo Ag. Four out of these 5 deals were up rounds — meaning these companies saw an increase in valuation.
- Several investors have backed at least 3 of these top 10 most highly valued AI companies, including SoftBank, Baillie Gifford & Co, Wellington Management, Tiger Global Management, T. Rowe Price, and General Atlantic.
- In response to Covid-19, China has doubled down on AI investments. Beijing-based Megvii deployed an AI-powered temperature screening solution, while Shanghai-based SenseTime has offered temperature detection software alongside a biometric identification system for people wearing masks.
For a look at what’s next in the AI space, check out the AI 100 — our list of the most promising AI companies in the world.