Private Tech Valuations Surge to $1.3 Trillion Led by AI Giants OpenAI and SpaceX

Private technology valuations have doubled to $1.3 trillion, driven by explosive growth in AI-focused companies like OpenAI and SpaceX. Forge Global's latest report, based on actual private market transactions, reveals a fourfold increase in value for seven leading firms since late 2022—when ChatGPT's debut reshaped the tech landscape.

Elon Musk's xAI exemplifies the trend, now raising $10 billion at a $200 billion valuation—up 33% in months. The AI frenzy isn't confined to public markets; it's triggering a private sector arms race. OpenAI leads with a $324 billion valuation, followed by Anthropic ($178 billion) and xAI ($90 billion), all competing against tech titans like Google and Meta in the large language model arena.

SpaceX's valuation soars to $456 billion, while Databricks hits $100 billion by pivoting to AI-driven data analytics. The figures underscore how AI continues to command premium valuations across both private and public markets.