Hurun Report Releases 2025 Global Unicorn Index: SpaceX, ByteDance, OpenAI Top Three

In a market brimming with innovation, the latest Global Unicorn Index from the Hurun Research Institute offers a fascinating snapshot of the world’s most valuable privately-held companies, those valued at over $1 billion and founded after the year 2000.

The 2025 edition paints a picture of robust growth, with a record-breaking 1,523 unicorns globally, a nearly 5% increase of 70 companies over the previous year.

The United States continues to dominate as the global hub for unicorn ventures, boasting 758 companies, or nearly 50% of the total. China follows far behind with 343 companies, representing just over 22%. India and the United Kingdom round out the top ranks, each with over 60 unicorns.

The index highlights key trends in the unicorn landscape. A staggering 77% of these companies are focused on software and services, particularly in fintech, software solutions, and artificial intelligence. The remaining 23% deal in physical products, primarily in the semiconductors, new energy, biotech, and health tech sectors.

The top of this competitive list is worth highlighting:

SpaceX (USA, founded 2002): Soaring to the top spot this year with a valuation of $2.6 trillion, having increased its value by $1.2 trillion over the year prior, reflecting a substantial bullish market for space exploration and related technologies.

ByteDance (China, founded 2012): Despite a valuation increase of $584 billion, now reaching $2.2 trillion the tech giant drops to an equal second position.

OpenAI (USA, founded 2015): The AI powerhouse experienced a staggering $1.5 trillion surge in valuation, also now valued at $2.2 trillion, thus jumping one place to tie for second.

The top 10 firms require a valuation of at least $330 billion, with a combined worth of $10.6 trillion. The US accounts for 6 of the top 10, China accounts for 3, and the UK for a single entrant. The success in this space shows huge investment in certain industries from countries around the world.

Artificial intelligence remains a critical sector within the index, with a total of 478 AI-related unicorns. Notably, 128 pure-play AI companies hold a combined valuation of nearly $1 trillion, showcasing the booming interest and investment currently flowing in the field.