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The fervor surrounding the private tech market continues unabated, with companies like OpenAI, SpaceX, Anthropic, and Stripe commanding astronomic valuations, reflecting a sustained investor appetite for high-growth potential outside of the public markets.
PitchBook, a leading provider of data and insights on the private capital markets, is enhancing its platform with AI-powered tools designed to streamline access to critical information. On Monday, the company unveiled PitchBook Navigator, an AI assistant enabling users to query the platform’s vast database using natural language, thus extracting market intelligence and analysis with greater efficiency.
Instead of navigating through individual company profiles and manually searching for specific data points, PitchBook subscribers can now pose targeted questions to Navigator and receive concise, AI-generated reports encompassing deal terms, valuations, and emerging market trends. This development significantly reduces the time and effort required for due diligence and market research. Further extending its reach, PitchBook is also integrating its data with OpenAI, granting paid users direct access to PitchBook’s proprietary information through the widely adopted ChatGPT interface.
The AI-driven market insights are fueled by PitchBook’s extensive data infrastructure, augmented by a blend of artificial intelligence and human curation. This hybrid approach aims to ensure both speed and accuracy in the information provided. Navigator is slated for release to subscribers in late November, marking a significant step forward in democratizing access to private market intelligence.
“AI is rapidly reshaping the business landscape, and PitchBook, with its foundation of reliable and comprehensive data built over nearly two decades, is uniquely positioned to spearhead this new era of private market intelligence,” stated Thomas Van Buskirk, Executive Vice President of Technology and Engineering at PitchBook, in a recent press release.
PitchBook’s AI enhancement arrives amid escalating investor demand for access to private market deals and comprehensive data. This trend is exemplified by OpenAI’s rise to a staggering $500 billion valuation in October, solidifying its position as the world’s most valuable private company. This valuation eclipsed SpaceX’s reported $400 billion valuation stemming from secondary market transactions and followed Anthropic’s announcement of a funding round in September that pegged its valuation at $183 billion.
The demand for exposure to the private markets is not limited to venture capital firms and institutional investors. Traditional financial powerhouses are increasingly seeking to establish a presence in this sphere through strategic acquisitions. For example, Charles Schwab finalized an agreement to acquire Forge Global, a prominent marketplace for pre-IPO shares, for $660 million. Additionally, Goldman Sachs acquired $7 billion venture capital firm Industry Ventures, and Morgan Stanley disclosed plans to acquire private shares platform EquityZen. These moves signify a broader effort to tap into the potential of high-growth, pre-public companies and serve the growing client demand for alternative investments.
The integration with ChatGPT builds on PitchBook’s ongoing strategy of leveraging Large Language Models (LLMs) to enhance its platform. In late October, PitchBook collaborated with Anthropic, enabling subscribers to access PitchBook’s market data directly within the Claude AI assistant. This move underscores the company’s commitment to providing users with multiple entry points to its data across various platforms, solidifying its position as a leading provider of private capital market intelligence.
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Original article, Author: Tobias. If you wish to reprint this article, please indicate the source:https://aicnbc.com/12600.html
