AI and Private Markets: Strong Returns and Diversification into 2026

Private Markets and AI Dominance

• 💡 The dominant theme at Davos is the growth of AI, with 19 of the largest AI companies still operating as private entities.
• 🚀 Forge Global's AI basket, including companies like OpenAI and Anthropic, saw an impressive 191% growth in 2025.

Continued Funding and Investor Optimism

• 📈 Conversations at Davos indicate no slowdown in private market funding, with underlying company performance remaining strong.
• 💬 There is significant optimism about continued growth and capital raises in 2026, driven by the performance of companies in 2025.

Diversification Beyond AI

• 📊 While AI leads in returns and capital raises, non-AI companies achieved 40% growth in 2025, highlighting the need for a diversification strategy.
• 🚀 Sectors like aerospace and defense have shown strong performance, with companies like Anduril and SpaceX leading the way.
• ⚙️ Other significant non-AI sectors include enterprise software and industrials, indicating broad-based growth opportunities.

Key Private AI Companies

• 🔍 The discussion highlights prominent private AI companies such as OpenAI, Anthropic, and Data Bricks.
• 🌐 The strong performance of these private AI leaders is a key driver of the overall private market activity observed at Davos.