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Morningstar PitchBook Global Artificial Intelligence Unicorn

What this index holds, how it is built, and what its record does not cover. Morningstar Indexes, built with PitchBook.

What it tracks

The Morningstar PitchBook Global Artificial Intelligence Unicorn Index tracks the largest privately held, venture capital-backed companies in the Artificial Intelligence industry vertical with valuations of at least $1 billion. Artificial Intelligence companies either develop the semiconductors and algorithms driving progress in the field or the software that incorporates limited forms of the technology.

One industry vertical, artificial intelligence, rather than the whole market. It is by far the broadest index on this site by constituent count, which is itself the finding: the number of billion-dollar private AI companies now runs to the hundreds.

Run by Morningstar Indexes, built with PitchBook. PrePost has no relationship with the provider and is not paid to list this index.

Read this first

Most of the record is backfilled

The index began on 2023-10-25. Its performance record starts 2021-03-22, so the years before 2023-10-25 are backfilled rather than live. A long-run return quoted for this index is mostly a backtest.

Private marks can be stale

The provider's own reporting notes that where transactions are infrequent, secondary-market marks can stay unchanged even as new information emerges.

How the index is built

FieldValue
ProviderMorningstar Indexes, built with PitchBook
InceptionOctober 25, 2023
Performance record startsMarch 22, 2021
Constituents418
WeightingMarket Capitalization
RebalanceQuarterly (next September 21, 2026)
ReconstitutionSemi Annually
CurrencyUSD
How constituents are pricedNot published as a rule. The provider's quarterly reporting on this family sources its secondary-market marks to Caplight, alongside Morningstar and PitchBook data.
Published methodologyNone that PrePost could find on the provider's own pages.
VariantsMorningstar PitchBook Global Artificial Intelligence Unicorn PR USD
Morningstar PitchBook Global Artificial Intelligence Unicorn GR USD
IdentifiersFS0000IE7M (Morningstar fund ID)

What is in it

Named constituents as of August 31, 2026.

PrePost has a sourced figure for 16 of the 418 named constituents.

Membership as the index provider published it on this date. PrePost shows which companies are in the index, not their weights.

CompanyPrePostEstimateConfidence
AnthropicVerified$965.0Bhigh
OpenAIVerified$894.3Bhigh
ByteDanceNamedNo PrePost page
DatabricksVerified$190.0Bhigh
StripeVerified$159.0Bhigh
WaymoNamedNo PrePost page
AndurilVerified$100.0Bmedium
CanvaNamedNo PrePost page
Cerebras SystemsNamedNo PrePost page
Figure AI (identified by PrePost, not named by the provider)Verified$39.0Bmedium
Safe SuperintelligenceNamedNo PrePost page
RampVerified$44.0Bmedium
VAST DataNamedNo PrePost page
CognitionNamedNo PrePost page
Yuezhianmian TechnologyNamedNo PrePost page
Epic GamesNamedNo PrePost page
PerplexityVerified$22.6Blow
SierraNamedNo PrePost page
ClickHouseNamedNo PrePost page
GrammarlyNamedNo PrePost page
Mistral AINamedNo PrePost page
AirtableNamedNo PrePost page
XylaNamedNo PrePost page
Fireworks AINamedNo PrePost page
Applied IntuitionNamedNo PrePost page
BoltNamedNo PrePost page
KrakenflexNamedNo PrePost page
BitmainNamedNo PrePost page
TalkdeskNamedNo PrePost page
EtchedNamedNo PrePost page
HarveyNamedNo PrePost page
ElevenLabsNamedNo PrePost page
MercorNamedNo PrePost page
HelsingNamedNo PrePost page
LovableNamedNo PrePost page
NeuralinkVerified$28.6Bmedium
CrusoeVerified$30.0Bhigh
SaronicNamedNo PrePost page
CyeraNamedNo PrePost page
NianticNamedNo PrePost page
VercelVerified$10.4Bmedium
BasetenNamedNo PrePost page
FlexportNamedNo PrePost page
ReplitVerified$9.3Bhigh
Physical IntelligenceNamedNo PrePost page
Flock SafetyNamedNo PrePost page
GongNamedNo PrePost page
UNISOCNamedNo PrePost page
AttentiveNamedNo PrePost page
AgibotNamedNo PrePost page
WayveNamedNo PrePost page
GleanNamedNo PrePost page
FalconXNamedNo PrePost page
CommureNamedNo PrePost page
Automation AnywhereNamedNo PrePost page
CohereNamedNo PrePost page
Neura RoboticsNamedNo PrePost page
Momenta ( Automation/Workflow Software)NamedNo PrePost page
DataRobotNamedNo PrePost page
LeyaNamedNo PrePost page
SandboxAQVerified$13.9Blow
HarnessVerified$5.5Bhigh
AbnormalNamedNo PrePost page
ContentSquareNamedNo PrePost page
MetropolisNamedNo PrePost page
Loop Ai LabsNamedNo PrePost page
GustoNamedNo PrePost page
World LabsNamedNo PrePost page
n8nNamedNo PrePost page
LambdaNamedNo PrePost page
RunwayNamedNo PrePost page
WorkatoNamedNo PrePost page
VerkadaNamedNo PrePost page
NuroNamedNo PrePost page
NapsterNamedNo PrePost page
Shield AIVerified$12.7Bhigh
ApptronikNamedNo PrePost page
6senseNamedNo PrePost page
FaireNamedNo PrePost page
OneTrustNamedNo PrePost page
Xiaodu TechnologyNamedNo PrePost page
Industrial Cloud ManufacturingNamedNo PrePost page
SupabaseNamedNo PrePost page
ThoughtSpotNamedNo PrePost page
Modal LabsNamedNo PrePost page
CheckrNamedNo PrePost page
VantaNamedNo PrePost page
Didi Autonomous DrivingNamedNo PrePost page
Features & LabelsNamedNo PrePost page
DecagonNamedNo PrePost page
TekionNamedNo PrePost page
ChaosNamedNo PrePost page
Ultima GenomicsNamedNo PrePost page
Hugging FaceNamedNo PrePost page
Mission LaneNamedNo PrePost page
SkydioNamedNo PrePost page
SwordNamedNo PrePost page
Arctic WolfNamedNo PrePost page
Together.AiNamedNo PrePost page
OutreachNamedNo PrePost page
HiggsfieldNamedNo PrePost page
IndigoNamedNo PrePost page
NoomNamedNo PrePost page
Farmers Business NetworkNamedNo PrePost page
Luma AiNamedNo PrePost page
DataminrNamedNo PrePost page
Black Forest LabsNamedNo PrePost page
SynthesiaNamedNo PrePost page
Face++NamedNo PrePost page
HiveNamedNo PrePost page
Xaira TherapeuticsNamedNo PrePost page
LightmatterVerified$4.4Blow
EonNamedNo PrePost page
CriblNamedNo PrePost page
Chai DiscoveryNamedNo PrePost page
DeepBlue TechnologyNamedNo PrePost page
StarburstNamedNo PrePost page
HopperNamedNo PrePost page
AlphaSenseNamedNo PrePost page
InnovaccerNamedNo PrePost page
Ayar LabsNamedNo PrePost page
Course HeroNamedNo PrePost page
Magic (Software Development Applications)NamedNo PrePost page
Uber FreightNamedNo PrePost page
LentraNamedNo PrePost page
GoStudentNamedNo PrePost page
Spring HealthNamedNo PrePost page
DataikuNamedNo PrePost page
o9 SolutionsNamedNo PrePost page
SiFiveNamedNo PrePost page
The Constant Company (Florida)NamedNo PrePost page
Weilai ChinaNamedNo PrePost page
AbridgeNamedNo PrePost page
SambaNova SystemsNamedNo PrePost page
TenstorrentNamedNo PrePost page
HighRadiusNamedNo PrePost page
Hippocratic AINamedNo PrePost page
SocureNamedNo PrePost page
CHINT(Zhejiang)NamedNo PrePost page
MotiveNamedNo PrePost page
ImprobableNamedNo PrePost page
Clay (New York)NamedNo PrePost page
DrivenetsNamedNo PrePost page
Terminus TechnologiesNamedNo PrePost page
Banma NetworkNamedNo PrePost page
insitroNamedNo PrePost page
The Brandtech GroupNamedNo PrePost page
ParloaNamedNo PrePost page
project44NamedNo PrePost page
PoolsideNamedNo PrePost page
SourcegraphNamedNo PrePost page
KoBold MetalsNamedNo PrePost page
PeregrineNamedNo PrePost page
IcertisNamedNo PrePost page
Neko HealthNamedNo PrePost page
Spirit Ai RoboticsNamedNo PrePost page
SigmaNamedNo PrePost page
PlumeNamedNo PrePost page
Transmit SecurityNamedNo PrePost page
LTKNamedNo PrePost page
Neo4jNamedNo PrePost page
QualiaNamedNo PrePost page
JellysmackNamedNo PrePost page
Dreame TechnologyNamedNo PrePost page
CloudMinds RoboticsNamedNo PrePost page
Baichuan AINamedNo PrePost page
UniphoreNamedNo PrePost page
TradeshiftNamedNo PrePost page
BitSightNamedNo PrePost page
Sakana AINamedNo PrePost page
HiBobNamedNo PrePost page
DreamNamedNo PrePost page
ClariNamedNo PrePost page
QuantexaNamedNo PrePost page
G7 CompanyNamedNo PrePost page
Zhidao NetworkNamedNo PrePost page
ESWIN ComputingNamedNo PrePost page
AlgoliaNamedNo PrePost page
KunlunxinNamedNo PrePost page
AVATR TechnologyNamedNo PrePost page
BloomreachNamedNo PrePost page
Qianxun SINamedNo PrePost page
SunoNamedNo PrePost page
RebellionsNamedNo PrePost page
EliseAINamedNo PrePost page
MainfuncNamedNo PrePost page
SolugenNamedNo PrePost page
LunarNamedNo PrePost page
Trax RetailNamedNo PrePost page
VerbitNamedNo PrePost page
TonalNamedNo PrePost page
AvantNamedNo PrePost page
IncodeNamedNo PrePost page
JustworksNamedNo PrePost page
Agility RoboticsNamedNo PrePost page
FramerNamedNo PrePost page
StarcloudNamedNo PrePost page
FatriNamedNo PrePost page
bolttechNamedNo PrePost page
EvenUpNamedNo PrePost page
FeedzaiNamedNo PrePost page
The Data Foundation (United States)NamedNo PrePost page
TuringNamedNo PrePost page
YITUNamedNo PrePost page
EightfoldNamedNo PrePost page
IterableNamedNo PrePost page
DeepLNamedNo PrePost page
Invisible TechnologiesNamedNo PrePost page
LightricksNamedNo PrePost page
LeiaNamedNo PrePost page
d-MatrixNamedNo PrePost page
Gamma Tech.NamedNo PrePost page
InsiderNamedNo PrePost page
KongNamedNo PrePost page
LookoutNamedNo PrePost page
AltruistNamedNo PrePost page
ADVANCE.AINamedNo PrePost page
DevoNamedNo PrePost page
Thought MachineNamedNo PrePost page
DialpadNamedNo PrePost page
PathosNamedNo PrePost page
WriterNamedNo PrePost page
AcornsNamedNo PrePost page
Monte CarloNamedNo PrePost page
RedisNamedNo PrePost page
CertiKNamedNo PrePost page
ApolloNamedNo PrePost page
DistylNamedNo PrePost page
MolocoNamedNo PrePost page
Perfect DayNamedNo PrePost page
Diamond FoundryNamedNo PrePost page
Shengshu TechnologyNamedNo PrePost page
SiftNamedNo PrePost page
GupShupNamedNo PrePost page
SmartNewsNamedNo PrePost page
FloQastNamedNo PrePost page
Vi LabsNamedNo PrePost page
ZumNamedNo PrePost page
Enflame TechnologyNamedNo PrePost page
AlationNamedNo PrePost page
MashginNamedNo PrePost page
ZenotiNamedNo PrePost page
Placer.aiNamedNo PrePost page
ClarifyNamedNo PrePost page
H2O.aiNamedNo PrePost page
CapitolisNamedNo PrePost page
Factory (Software Development Applications)NamedNo PrePost page
BostonGeneNamedNo PrePost page
SpreeAINamedNo PrePost page
HyperscienceNamedNo PrePost page
Pigment (Business/Productivity Software)NamedNo PrePost page
MatillionNamedNo PrePost page
FireboltNamedNo PrePost page
NotcoNamedNo PrePost page
OwkinNamedNo PrePost page
ValoNamedNo PrePost page
Doc.comNamedNo PrePost page
NetraDyneNamedNo PrePost page
Salt SecurityNamedNo PrePost page
WEKANamedNo PrePost page
PantherNamedNo PrePost page
You.comNamedNo PrePost page
VeriffNamedNo PrePost page
AsappNamedNo PrePost page
HumaNamedNo PrePost page
PhenomNamedNo PrePost page
TruvetaNamedNo PrePost page
CogniteNamedNo PrePost page
GranolaNamedNo PrePost page
LiquidityNamedNo PrePost page
AnyscaleNamedNo PrePost page
AsimovNamedNo PrePost page
Tulip InterfacesNamedNo PrePost page
SignifydNamedNo PrePost page
JasperNamedNo PrePost page
ProveNamedNo PrePost page
GigaaiNamedNo PrePost page
OptibusNamedNo PrePost page
LoadsmartNamedNo PrePost page
TungeeNamedNo PrePost page
Glance (Social Content)NamedNo PrePost page
AnacondaNamedNo PrePost page
AblyNamedNo PrePost page
Hai RoboticsNamedNo PrePost page
InstabaseNamedNo PrePost page
FloNamedNo PrePost page
RoboteraNamedNo PrePost page
Apollo (Software Development Applications)NamedNo PrePost page
KonfioNamedNo PrePost page
Xbow UsaNamedNo PrePost page
AI21 LabsNamedNo PrePost page
AmbienceNamedNo PrePost page
Linear (Business/Productivity Software)NamedNo PrePost page
Harmonic (Software Development Applications)NamedNo PrePost page
ScribeNamedNo PrePost page
Enya LabsNamedNo PrePost page
Smart LogicNamedNo PrePost page
PilotNamedNo PrePost page
ImmunaiNamedNo PrePost page
MindTickleNamedNo PrePost page
MoniepointNamedNo PrePost page
SparkcognitionNamedNo PrePost page
DeepgramNamedNo PrePost page
ChocoNamedNo PrePost page
TEKEVERNamedNo PrePost page
SnorkelNamedNo PrePost page
Code MetalNamedNo PrePost page
BigPandaNamedNo PrePost page
TorqNamedNo PrePost page
Sizherui Smart Medical EquipmentNamedNo PrePost page
Enveda BiosciencesNamedNo PrePost page
YISANamedNo PrePost page
AcornMedNamedNo PrePost page
Inceptio TechnologyNamedNo PrePost page
VectraNamedNo PrePost page
SotereaNamedNo PrePost page
QuantstampNamedNo PrePost page
SmartMoreNamedNo PrePost page
SecurityScorecardNamedNo PrePost page
Bright MachinesNamedNo PrePost page
PasqalNamedNo PrePost page
People.aiNamedNo PrePost page
LangChainNamedNo PrePost page
TrueBindingNamedNo PrePost page
SeekOutNamedNo PrePost page
HasuraNamedNo PrePost page
IntelyCareNamedNo PrePost page
SeekrNamedNo PrePost page
AdaNamedNo PrePost page
9finNamedNo PrePost page
Fourier IntelligenceNamedNo PrePost page
Viz.aiNamedNo PrePost page
Accutar BiotechNamedNo PrePost page
SunbitNamedNo PrePost page
AlpacaNamedNo PrePost page
CommerceIQNamedNo PrePost page
Goodfire AiNamedNo PrePost page
MeeroNamedNo PrePost page
Cheq (Network Management Software)NamedNo PrePost page
iSpotNamedNo PrePost page
Wheel HealthNamedNo PrePost page
AKASANamedNo PrePost page
Standard AINamedNo PrePost page
DevRevNamedNo PrePost page
Our Next EnergyNamedNo PrePost page
TresataNamedNo PrePost page
HootsuiteNamedNo PrePost page
AxtriaNamedNo PrePost page
VisierNamedNo PrePost page
BigIDNamedNo PrePost page
BlueVoyantNamedNo PrePost page
LeadSquaredNamedNo PrePost page
Evidation HealthNamedNo PrePost page
GlobalityNamedNo PrePost page
PatSnapNamedNo PrePost page
BeameryNamedNo PrePost page
GloatNamedNo PrePost page
EpirusNamedNo PrePost page
Treasure DataNamedNo PrePost page
GliaNamedNo PrePost page
AssuredNamedNo PrePost page
SwileNamedNo PrePost page
MixpanelNamedNo PrePost page
Thirty MadisonNamedNo PrePost page
ImmutaNamedNo PrePost page
VNLIFENamedNo PrePost page
FundboxNamedNo PrePost page
VianaiNamedNo PrePost page
QuizletNamedNo PrePost page
Cera (Healthcare Technology Systems)NamedNo PrePost page
AvocaNamedNo PrePost page
Eve (San Mateo)NamedNo PrePost page
TaxfixNamedNo PrePost page
Defense UnicornsNamedNo PrePost page
StoreDotNamedNo PrePost page
ZongmuNamedNo PrePost page
SOURCENamedNo PrePost page
SpeakNamedNo PrePost page
Altana TechnologiesNamedNo PrePost page
CoralogixNamedNo PrePost page
AmperityNamedNo PrePost page
HailoNamedNo PrePost page
OrCamNamedNo PrePost page
ImbueNamedNo PrePost page
01.AINamedNo PrePost page
RekaNamedNo PrePost page
ZyphraNamedNo PrePost page
Cast AiNamedNo PrePost page
Morning ConsultNamedNo PrePost page
TypefaceNamedNo PrePost page
Zero HashNamedNo PrePost page
MioTech (Shanghai)NamedNo PrePost page
OrchardNamedNo PrePost page
RraiNamedNo PrePost page
ViseNamedNo PrePost page
Stability AINamedNo PrePost page
Beyond LimitsNamedNo PrePost page
PositronNamedNo PrePost page
DensityNamedNo PrePost page
KneronNamedNo PrePost page
KeenonNamedNo PrePost page
HealthCare.comNamedNo PrePost page
Electric (It Consulting And Outsourcing)NamedNo PrePost page
io.netNamedNo PrePost page
Vastai TechnologiesNamedNo PrePost page
PathAINamedNo PrePost page
LunchclubNamedNo PrePost page
MinIONamedNo PrePost page
MadHiveNamedNo PrePost page
DeepRoute.AiNamedNo PrePost page
Haomo ZhixingNamedNo PrePost page
Krutrim SI DesignsNamedNo PrePost page
NimbleNamedNo PrePost page
RokidNamedNo PrePost page
NrealNamedNo PrePost page
Preferred NetworksNamedNo PrePost page
Uisee TechnologiesNamedNo PrePost page
Rebellion DefenseNamedNo PrePost page

Verified means a full PrePost profile with sourced figures. Listed means the company is named here because a benchmark we track names it; PrePost has published no figure for it and does not rank it.

The index provider lists this constituent only as “Figure”, with no identifier of any kind. PrePost has identified it as Figure AI on four grounds: the index selects the largest and most liquid unicorns; no separate Figure AI entry appears in any index we track; the other well-known company of that name, Figure Technologies, is an order of magnitude too small to qualify; and the two SEC-filing funds on this site that hold it, which must name portfolio companies precisely, both report it as “Figure AI, Inc.”. The provider has not confirmed this, and we have asked.

Vehicles that track it

None that PrePost tracks. That does not mean none exists: a product can track an index without PrePost having verified it, and PrePost lists a vehicle only once it can source what the vehicle is and what it holds.

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Sources

An index is not an investment, and a product that tracks one may not hold what it holds. This page describes the index, not any product. Not investment advice.

Last updated 2026-09-12. See also how we verify and our disclaimer.