Who Are The USA’s Most Valuable Startups?

The US is home to some of the world’s biggest startups, boasting a very impressive 1050 unicorns within its borders. In fact, despite being such a huge country, the US has 2.29 unicorns per million people, one of the highest in the world. (Wikipedia).

But this density of unicorns is no coincidence.

Why Are There So Many Unicorns In The US?

The US has a lot more unicorns than almost any other country in the world. But it’s not just down to its population size. According to Wikipedia it leads with 1050 unicorns, with China, the world’s second most populated country, coming in second at 343 unicorns and India, the world’s most populated country in 3rd at 124.

But why?

Well, according to PwC, reasons for this include:

Stronger access to venture capital: The US has a much bigger and more active venture capital sector, giving startups better access to funding to grow quickly.

Bigger consumer market: American startups can scale faster thanks to a large market at home, driven by strong consumerist values.

Better startup ecosystem: The US has very supportive regulations, access to top talent and an environment that encourages innovation and risk-taking. This means more people are encouraged to start and scale businesses there.

Migration of unicorns: Some European unicorns move to the US to help them grow faster and access investment in the market.

So, who are some of the US’s most valuable companies?

OpenAI

Valuation: $500 billion

Founded in: 2015

Sector: AI – OpenAI, the company behind ChatGPT, set out with a mission to make AI accessible to everyone. Initially founded as a non-profit, it has grown into the world’s most valuable startup.

SpaceX

Valuation: $425 billion

Founded in: 2002

Sector: Rockets – SpaceX was founded by Elon Musk as a way to lower the cost of space launches. By developing reusable rockets, Musk wanted to make space exploration more affordable for government agencies and private companies.

Anthropic

Valuation: $350 billion

Founded in: 2021

Sector: AI – Anthropic is an AI research company that builds language models that it says are safe and aligned with human values. It’s setting out to create responsible AI LLMs for the long-term benefit of humanity.

xAI

Valuation: $200 billion

Founded in:

Sector: AI – xAI is setting out to use AI to advance scientific discovery and gain a deeper understanding of the world around us. Founded by Elon Musk, and the creator of Grok, the company plans to use AI for the benefit of humankind.

Stripe

Valuation: $106 billion

Founded in: 2010

Sector: Fintech – Stripe is an American-Irish finance API that helps businesses accept payments, track revenue and pay suppliers. Stripe has become a staple for many e-commerce and in-store businesses, helping them manage their finances both on and offline.

Databricks

Valuation: $100 billion

Founded in: 2013

Sector: AI – databricks is a platform that allows businesses to manage their data, analytics and AI all in one place. By allowing all elements to be viewable in one platform, databricks helps businesses make better decisions about all elements of their data.

Figure AI

Valuation: $39 billion

Founded in: 2022

Sector: Robotics – Figure AI is a robotics company that builds AI humanoid robots to be used in warehouses, factories and even people’s houses. They are setting out to help businesses combat labour shortages and create easier ways to deploy robot employees.

Ramp

Valuation: $32 billion

Founded in: 2019

Sector: Finance – Ramp makes it easier for businesses to manage their spending with their corporate card and spend management platform. The company helps businesses manage payments, track spending and automate financial processes.

Safe Superintelligence

Valuation: $32 billion

Founded in: 2024

Sector: AI – Safe Superintelligence is setting out to create an AI system that will benefit humanity, but not harm it. The company is setting out to create a safe form of AI that will be smarter than human intelligence, but not inherently harmful.

Epic Games

Valuation: $31.5 billion

Founded in: 1991

Sector: Gaming – Epic games is the video game and software development company that is behind Fortnite. The company also created Unreal Engine – the 3D technology used in many of the world’s top games.