Half of new Unicorn Startups in 2024 are developing AI

SpaceX is inching closer to becoming the world’s most valuable unicorn startup with a staggering valuation of $350 billion. According to NewsworthyData, BestBrokers latest report sheds light on the current state of unicorn companies worldwide. The research also provides a comprehensive overview of all private startups that have achieved a valuation of at least $1 billion over the past year.

RELATED: Report finds 43% of new unicorn startups in 2024 are AI companies, 29% are in Fintech or Crypto

According to its findings, a whopping 44.9% of 69 companies that became Unicorns in 2024 are startups focused on AI. This marks a significant trend. AI continues to revolutionize industries and transform the way businesses operate. Fintech and crypto industries come in second. They account for 21.7% of the new unicorns, while enterprise software and technology companies make up 10% of the list.

Unique insight into sectors driving innovation and growth

Our analysis, based on a dataset of 1,258 companies, including 69 new additions in 2024, provides a unique insight into the sectors driving innovation and growth.

Here are a few key takeaways from our report:

The number of privately held unicorns reached 1,258 in December 2024, with a combined value of over $4 trillion.
69 private startups reached a valuation of $1 billion or more for the first time in 2024, effectively becoming unicorns.
AI startups are dominating the unicorn landscape, with 44.9% of new unicorns in 2024 focusing on artificial intelligence.
The US is home to more than half of all unicorn startups, with 683 companies valued at over $2.391 trillion.
The Enterprise Tech industry is the largest sector for unicorns, with 392 companies valued at over $1.159 trillion.
Silicon Valley is the world’s unicorn capital, with 186 unicorns, followed by New York, Beijing, London, and Shanghai.
Fintech and AI startups are growing rapidly, with 271 and 134 unicorns, respectively.
The most valuable startup to reach unicorn status in 2024 is Elon Musk’s new AI business, xAI, which was recently valued at $50 billion, a massive amount considering the company was founded in March 2023. Musk’s xAI also became the 7th most valuable unicorn in the world.
Chinese tech giant and TikTok developer ByteDance remains the most valuable unicorn in the world and is currently worth $225 billion. This could change very soon, as SpaceX, currently valued at $200 billion, is reportedly planning to sell insider shares in a tender offer later in the coming days or weeks. The valuation of the rocket maker during the transaction is said to be $350 billion.