13 Unicorns In Generative AI: The Next Big Thing in Tech

The tech world is facing several challenges right now, including a funding drought, widespread layoffs, and investor demands for profit over growth. However, one industry that doesn't seem to be impacted by these challenges is generative AI.

Generative artificial intelligence is a subset of AI that can produce original content, including music, images, and text. Although it is still in its infancy, it has the potential to completely transform a variety of sectors, including healthcare, finance, and entertainment.

13 generative AI startups have already attained a $1 billion+ valuation. Compared to the majority of their peers, these businesses are achieving unicorn status much more quickly. For generative AI companies, it takes an average of 3.6 years to become unicorns, versus 7 years for the unicorn club as a whole. The disparity between these companies' sky-high valuations and their modest revenues has grown due to the excitement surrounding generative AI. Investors are, however, betting that generative AI will ultimately become a significant force in the tech sector, and they are prepared to pay a premium for early access to these businesses.

Here is a list of the 13 generative AI unicorns (as of May 2023):

1- OpenAI ( $29B Valuation) OpenAI is a non-profit research laboratory that promotes and develops friendly artificial general intelligence (AGI). Ilya Sutskever, Sam Altman, and others founded it in 2015. Elon Musk was also involved. The goal of OpenAI is to make sure that AGI is beneficial for all of humanity. OpenAI changed its status from non-profit to "capped" for-profit in 2019, with a profit cap of 100 times any investment.

Several ground-breaking artificial intelligence (AI) innovations have been created by OpenAI, including ChatGPT, an AI chatbot that can have conversations with people, GPT, a large language model that can generate text, translate languages, write various types of creative content, and DALL-E 2, a neural network that can create realistic images from text descriptions.

OpenAI has over 375 employees and is headquartered in San Francisco, California. Its investors include Microsoft, Peter Thiel, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global. 2- Anthropic AI ( $4.4B Valuation)

Anthropic AI is a research organization that is working to create trustworthy, understandable, and controllable AI systems. Daniela Amodei and Dario Amodei, who were formerly the vice president of research and research director at OpenAI, respectively, founded it in 2021. Anthropic AI is headquartered in San Francisco, California, and has over 100 employees.

The services and tools offered by Anthropic AI include Claude, an AI assistant that can assist with writing, research, and code generation. Investors including Google and Spark Capital helped the business raise more than $400 million in funding. 3- Cohere ( $2B Valuation)

Aidan Gomez, Nick Frosst, and Ivan Zhang established Cohere, a generative AI startup, in 2019. The business has over 100 employees and is based in Toronto, Canada.

Cohere's products are built on its extensive language models, which can write various types of creative content, translate languages, and provide you with helpful answers to your questions. Numerous companies, such as Spotify, Jasper, and Salesforce, use the company's products.

Cohere has raised over $250 million in funding from investors such as Tiger Global, Inovia Capital, and Index Ventures. The company is valued at over $2 billion and has joined the unicorn club.

4- Hugging Face ( $2B Valuation) Clément Delangue, Julien Chaumond, and Thomas Wolf founded Hugging Face in 2016, a generative AI startup. The business has over 200 employees and is based in New York City.

The open-source Transformers library from Hugging Face, which offers a unified API for working with big language models, is the foundation for all of the company's products. Google, Facebook, and Microsoft are just a few of the companies that use the company's products.

Hugging Face received $350 million in funding from a group of investors that included Sequoia Capital and Coatue. $2 billion in the company's market value.

5- Lightricks ( $1.8B Valuation)

Zeev Farbman, Amnon Shabtai, Nadav Horesh, and Boris Fridman established the generative AI startup Lightricks in 2013. With more than 550 staff members, the business has its headquarters in Jerusalem, Israel.

Products from Lightricks are built using its generative artificial intelligence technology, which can be used to produce and edit images and videos. Products from the company include Magic Eraser, Videoleap, and Facetune. Lightricks' products have been downloaded over 500 million times.

6- Runway ( $1.5B Valuation)

In 2021, artists and technologists founded Runway ML, a startup that uses generative AI. With more than 75 employees, the business is based in San Francisco, California.

The products made by Runway ML are based on its generative AI technology, which can be used to produce and edit images, audio, and video. Runway Music, a music creation tool that enables users to create music using generative AI, and Runway Studio, a creative suite that enables users to create and edit photos and videos using generative AI, are among the company's products. Runway ML's products are designed to empower creatives to bring their ideas to life.

7- Jasper ( $1.5B Valuation)

​​In 2020, Dave Rogenmoser, Chris Lu, and Matt Schlicht founded the generative AI startup, Jasper. The company is headquartered in San Francisco, California.

The products created by Jasper are based on its generative AI technology, which can be used to write various types of creative content, translate languages, and create and edit text. Jasper AI, a writing assistant that can assist users with tasks like writing blog posts, articles, and emails, and Jasper Translate, a translation tool that can translate text from one language to another, are among the company's products. The tools created by Jasper are intended to increase users' productivity and creativity.

8- Replit ( $1.2B Valuation)

Amjad Masad, Haya Odeh, and Faris Masad founded the generative AI startup Replit in 2016. The company is headquartered in San Francisco, California.

The generative AI technology that underpins Replit's products enables users to write and edit code, collaborate with other developers, and launch projects. Replit Teams, a platform for developers to collaborate on projects, and Replit IDE, an online integrated development environment (IDE) that enables users to write and run code in any programming language, are among the company's products. The products offered by Replit are made to streamline the software development and deployment process for developers.

9- Inflection ( $1.2B Valuation)

Founded in 2022 by Reid Hoffman and Mustafa Suleyman, Inflection is a generative AI startup. The company is headquartered in San Francisco, California.

The products from Inflection are built on its generative AI technology, which can be used to write various types of creative content, translate languages, and create and edit text. Pi, a customized AI chatbot from the business, can assist users with tasks like learning new things, idea generation, and maintaining organization. The products from Inflection are made to aid users in increasing their output and creativity. 10- Adept ( $1.B Valuation)

David Luan and Michael Nielsen founded the generative AI startup Adept in 2021. The company is headquartered in San Francisco, California.

The generative AI technology used by Adept to write various types of creative content, translate languages, and create and edit text is the foundation for its products. Products from the company include ACT-1, a sizable language model that can translate text directions into collections of digital actions. Adept's products are designed to help users be more productive and creative.

11- Character.ai ( $1.B Valuation)

Noam Shazeer and Daniel De Freitas founded Character.ai in 2022 as a generative AI startup. The company is headquartered in San Francisco, California.

The products from Character.ai are built on their generative AI technology, which can be used to write various types of creative content, translate languages, and create and edit text. Character.ai, a web application that enables users to create and communicate with AI characters, is one of the company's products. The products from Character.ai are made to encourage users to be more inventive and productive.

12- Stability.ai ( $1.B Valuation) Emad Mostaque and Brian Yu started the generative AI startup Stability.ai in 2021. The company is headquartered in San Francisco, California.

The products made by Stability.ai are based on its generative AI technology, which can be used to produce and edit text, images, and videos. Stable Diffusion, a text-to-image model; Stable Animation, a text-to-animation model; and Stable Language, a large language model are among the company's offerings. The products offered by Stability.ai are made to enhance users' creativity and productivity.

13- Glean ( $1.B Valuation)

Arvind Jain and T.R. Bradford founded the generative AI startup Glean in 2019. The business's main office is in San Francisco, California.

The technology behind Glean's generative AI products, which can be used to search and find information inside an organization, is the foundation for these products. The company's products include Glean Insights, a platform that can help organizations understand how their employees are using information and Glean Search, a search engine that can comprehend and synthesize content from across an organization to provide more precise answers to natural language queries. Products from Glean are made to improve productivity and efficiency in businesses.