AI Company Valuations: Key Numbers (as of November 4, 2026)
Each company's latest valuation from its last closed round, acquisition or listing, ranked high to low. Valuations are post-money unless marked pre-money; "reported" means the figure comes from press reports rather than the company. Deals still in talks are in a separate table below and are not counted here.
| Company | Latest valuation | Round / event | Date | Source |
|---|---|---|---|---|
| Anthropic | $965B post-money | $65B Series H (Altimeter, Dragoneer, Greenoaks, Sequoia) | May 28, 2026 | Anthropic |
| OpenAI | $852B post-money | $122B funding round | Mar 31, 2026 | TechCrunch |
| xAI | $230B (reported; last standalone) | $20B Series E; merged into SpaceX in Feb 2026 at $1.25T combined | Jan 6, 2026 | CNBC; CNBC |
| Databricks | $190B | $5B funding round | Aug 13, 2026 | Bloomberg |
| Waymo | $126B post-money | $16B round (Dragoneer, DST Global, Sequoia) | Feb 2, 2026 | Waymo |
| Cursor (Anysphere) | $60B acquisition price | Acquired by SpaceX, all stock; closed Aug 14, 2026 | Jun 16, 2026 (agreed) | TechCrunch; 9to5Mac |
| Cerebras | $56.4B at IPO (fully diluted, $185/share) | Nasdaq IPO; now public, so the market value moves daily | May 14, 2026 | TechCrunch |
| Cognition | $48B post-money | $2B Series E | Sep 8, 2026 | TechCrunch |
| Project Prometheus | $41B | $12B raise (Jeff Bezos, JPMorgan, Goldman Sachs, BlackRock) | Jun 11, 2026 | TechCrunch |
| Figure AI | $39B post-money | $1B+ Series C led by Parkway Venture Capital | Sep 16, 2025 | Figure |
| Scale AI | $29B+ | Meta paid $14.3B for a 49% non-voting stake | Jun 12, 2025 | Scale AI |
| Reflection AI | $25B pre-money | Round closed; CEO Misha Laskin confirmed on CNBC | Apr 23, 2026 | CNBC |
| Mistral AI | €21B+ (~$24.4B) post-money | €3B funding round | Sep 8, 2026 | TechCrunch |
| Perplexity | $20B (reported) | $200M round | Sep 10, 2025 | TechCrunch |
| Sierra | $15.8B post-money | $950M Series E (Tiger Global, GV) | May 4, 2026 | CNBC |
| Harvey | $15.5B | $550M funding round | Sep 9, 2026 | TechCrunch |
| Skild AI | $14B+ | $1.4B Series C led by SoftBank | Jan 14, 2026 | Skild AI |
| Lovable | $13.3B | $400M Series C led by Menlo Ventures | Aug 12, 2026 | TechCrunch |
| Baseten | $13B | $1.5B Series F | Jun 22, 2026 | Business Wire |
| Thinking Machines Lab | $12B post-money | $2B seed led by Andreessen Horowitz | Jul 15, 2025 | TechCrunch |
| Mercor | $10B | $350M Series C | Oct 27, 2025 | Mercor |
| Glean | $7.2B | Series F | Jun 10, 2025 | Glean |
| Cohere | $7B | $100M extension of its August 2025 round | Sep 24, 2025 | TechCrunch |
| Decagon | $4.5B | $250M Series D (Coatue, Index Ventures) | Jan 28, 2026 | Bloomberg |
Physical AI Companies: Valuations (as of November 4, 2026)
Physical AI is AI that acts in the real world: humanoid robots, foundation models that drive many robot bodies, autonomy for industrial machines, and AI that designs physical products. Ranked by last closed round; SPAC deal values are labeled. Waymo ($126B) is in the main table as an autonomous-driving operator. Full rankings and funding histories are in our top physical AI companies by valuation breakdown.
| Company | Latest valuation | Round / event | Date | Source |
|---|---|---|---|---|
| Project Prometheus | $41B | $12B raise; AI that designs and builds physical systems | Jun 11, 2026 | TechCrunch |
| Figure AI | $39B post-money | $1B+ Series C; humanoid robots | Sep 16, 2025 | Figure |
| Skild AI | $14B+ | $1.4B Series C; robot foundation model | Jan 14, 2026 | Skild AI |
| Neura Robotics | $7B | Series C of up to $1.4B, milestone-based (Tether lead) | Jun 11, 2026 | TechTimes |
| Dogotix (XPeng robotics) | $6.3B+ post-money | $900M+ round; IRON humanoid | Aug 26, 2026 | TechTimes |
| Physical Intelligence | $5.6B | $600M round; robot foundation models | Nov 20, 2025 | SiliconANGLE |
| Apptronik | ~$5.3B post-money (reported) | $520M Series A extension ($935M Series A total); Apollo humanoid | Feb 11, 2026 | TechCrunch |
| Mind Robotics | $3.4B | $400M round led by Kleiner Perkins; Rivian spinout | May 16, 2026 | The Next Web |
| Generalist AI | $3B (reported) | Series B extension | Aug 25, 2026 | TechCrunch |
| Agility Robotics | ~$2.5B (SPAC deal value) | Churchill Capital Corp XI shareholders approved the merger on Nov 2, 2026; listing as AGLT expected this week | Jul 5, 2026 (deal) | TechCrunch; Manufacturing Dive |
| FieldAI | $2B | $405M round; autonomy for industrial sites | Aug 2025 | OCBJ |
| Humanoid | $1.35B | $152M round; industrial humanoids (UK) | Jul 21, 2026 | SiliconANGLE |
Public comparison: Unitree Robotics listed on Shanghai's STAR Market on August 19, 2026, and its market value was 200.58 billion yuan (about $28.1 billion) at the October 19 close, per the Global Times. 1X Technologies has no verified valuation; SoftBank's reported talks are in the table below.
AI Valuations in Talks (Not Closed)
Reported negotiations and term sheets. Until a round closes, the last closed valuation above stands.
| Company | Reported talks | Last closed | Reported | Source |
|---|---|---|---|---|
| OpenAI | Cut to ~$20B at $1.25T, $11B secured (was ~$30B at $1.4T+ in mid-October) | $852B (Mar 2026) | Oct 31, 2026 | TechCrunch |
| Anthropic (IPO) | Investors pushing for the low end of a $1.5T-$2T range; the Nov 2 S-1/A still has no price range | $965B (May 2026) | Nov 3, 2026 | Fortune |
| Thinking Machines Lab | $5-6B raise at $40B+ pre-money | $12B (Jul 2025) | Sep 2026 | The Information via The Next Web |
| Perplexity | Nvidia investment at $30B+ discussed | $20B (Sep 2025) | Aug 24, 2026 | SiliconANGLE |
| Baseten | Round that could value it at $26B | $13B (Jun 2026) | Sep 23, 2026 | Bloomberg via Yahoo Finance |
| Mercor | Raise at a $20B valuation | $10B (Oct 2025) | Jul 9, 2026 | TechCrunch |
| Cohere | $2-3B at $20B | $7B (Sep 2025) | Sep 11, 2026 | PYMNTS |
| Physical Intelligence | ~$1B at more than $11B | $5.6B (Nov 2025) | Mar 27, 2026 | TechCrunch |
| FieldAI | $700M at $10B (term sheet, not closed) | $2B (Aug 2025) | Oct 5, 2026 | OCBJ |
| 1X Technologies | SoftBank majority stake at $6B | No verified valuation | Aug 2026 | The Information |
AI Valuation Multiples by Category
Our math: latest valuation from the Key Numbers table divided by the most recent sourced revenue figure. Revenue dates differ from round dates, so treat these as rough current multiples, not the multiples investors paid. Companies without a sourced revenue figure are left out. More context in AI startup valuation multiples and SaaS valuation multiples.
| Company | Category | Valuation | Revenue figure | Multiple | Revenue source |
|---|---|---|---|---|---|
| Anthropic | Foundation model lab | $965B | $17.0B Q3 2026 revenue (~$68B annualized) | ~14x | Anthropic S-1/A (SEC) |
| OpenAI | Foundation model lab | $852B | ~$50B run rate, late Sep 2026 (corrected figure) | ~17x | Quartz via Yahoo Finance |
| Cohere | Enterprise models | $7B | $240M ARR | ~29x | CNBC |
| Lovable | AI coding app | $13.3B | $600M+ run rate, Sep 2026 | ~22x | TechCrunch |
| Decagon | AI agents (customer service) | $4.5B | $100M+ ARR, Aug 2026 | ~45x | Newcomer |
| Sierra | AI agents (customer service) | $15.8B | $200M ARR, May 2026 | ~79x | Bret Taylor on X |
Frequently Asked Questions
Which AI company has the highest valuation?
Anthropic, at $965 billion post-money after its $65 billion Series H on May 28, 2026, per Anthropic. OpenAI is second at $852 billion from its $122 billion round in March 2026 (TechCrunch). Both figures are the last closed rounds as of November 4, 2026. OpenAI's new round, cut to about $20 billion at $1.25 trillion with $11 billion secured (TechCrunch, October 31), has not closed, and Anthropic's IPO has no price range yet.
How much is Anthropic worth?
Anthropic's last priced valuation is $965 billion post-money, set by a $65 billion Series H led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital on May 28, 2026, per Anthropic. After a confidential draft on June 1, it filed a public S-1 on October 26, 2026 and an amended S-1 on November 2 that adds third-quarter results but still leaves the price range blank. Investors are pushing for the low end of a $1.5 trillion to $2 trillion range, Fortune reported on November 3; nothing has priced as of November 4, 2026.
How much is OpenAI worth?
OpenAI's last confirmed valuation is $852 billion, set when it closed a $122 billion round on March 31, 2026 (TechCrunch). In mid-October OpenAI was reported to be seeking about $30 billion at more than $1.4 trillion; on October 30-31 the Financial Times and TechCrunch reported the target was cut to about $20 billion at $1.25 trillion, with $11 billion secured, per the Wall Street Journal. That round had not closed as of November 4, 2026.
What are the top physical AI companies by valuation?
By last closed round as of November 4, 2026: Project Prometheus at $41 billion (TechCrunch, June 2026), Figure AI at $39 billion post-money (Figure, September 2025), Skild AI at over $14 billion (Skild AI, January 2026), Neura Robotics at $7 billion (TechTimes, June 2026) and XPeng's Dogotix at over $6.3 billion (TechTimes, August 2026). Physical Intelligence's last closed round valued it at $5.6 billion (SiliconANGLE, November 2025).
What is xAI worth now?
xAI has no standalone valuation. Its last was a reported $230 billion from a $20 billion Series E in January 2026 (CNBC), before SpaceX absorbed it in February 2026 in a merger that valued the combined company at $1.25 trillion (CNBC).
Which AI companies are raising at higher valuations right now?
Reported talks that had not closed as of November 4, 2026 include OpenAI at $1.25 trillion on a round cut to about $20 billion (TechCrunch), Thinking Machines Lab at $40 billion-plus pre-money (The Information), Baseten at $26 billion (Bloomberg), Mercor and Cohere at $20 billion each (TechCrunch, PYMNTS), and Physical Intelligence at more than $11 billion (TechCrunch). None of these are counted as valuations on this page until they close.
How We Count
A valuation appears here only with an outside source and a date: a company announcement or a reputable outlet's report, linked in the Source column. We use the last closed equity round, an agreed acquisition price or an IPO price, never a rumored round, a secondary-market quote or a term sheet. Figures are in US dollars except Mistral, which reports in euros. See our editorial standards; to report an error, email t@nyvp.com.
Related Reading
- Anthropic valuation: $965B Series H and the IPO filing
- How Anthropic makes money: business model and 2026 revenue
- OpenAI valuation: $852B; round cut to $20B at $1.25T
- xAI valuation: $230B last solo mark, now inside SpaceX
- Top physical AI companies by valuation 2026
- Figure AI valuation: still $39B post-money
- Reflection AI valuation: $25B as Nvidia weighs a deal
- Perplexity valuation: $20B last round
- Scale AI valuation: $29B, no new round since Meta
- Thinking Machines valuation: $12B, $40B+ talks
- Cursor valuation: $60B SpaceX buyout
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