At the close of 2025, OpenAI is the most valuable private company of all time, valued at $500 billion. Not far down the list is rival Anthropic, the fourth-most valuable at $183 billion. Together, those two companies alone make up close to 10% of the value on The Crunchbase Unicorn Board. AI captured close to 50% of all global funding in 2025, up from 34% in 2024, Crunchbase data shows. A total of $202.3 billion has been invested in the AI sector in 2025 so far, which includes the whole stack ' AI infrastructure, foundation labs and applications. The foundation model companies have raised $80 billion in 2025 to date, representing 40% of global AI funding, per Crunchbase data. Model company funding this year has more than doubled from $31 billion in 2024, when that investment totaled about 27% of all AI funding. One trend to watch in 2026: Will the leading model developers continue to raise tens of billions through equity investment to address their voracious appetite for compute in...
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