Highlights 🤩
Original Resource Link: https://www.forbes.com/lists/ai50/?sh=1897af9e290f
Original Resource Publish Date: April 11, 2024
Original Resource Author: Kenrick Cai
- Forbes’ 6th annual AI 50, produced in partnership with Sequoia and Meritech Capital, covers what they bill as “the most promising privately-held artificial intelligence companies.” More on their methodology here.
- The companies have raised a total of $34.7 billion in funding (artificially inflated by the $10b from Microsoft into OpenAI).
- Forbes featured 4 “New and Noteworthy” companies on their website: Abridge, Harvey, Mistral AI, and Pika
Notes on the Resource 📝
Forbes, in collaboration with Sequoia and Meritech Capital, recently unveiled its 6th annual AI 50 list, spotlighting the most promising privately-held AI companies. These companies, including Abridge, Harvey, Mistral AI, and Pika, collectively boast a staggering $34.7 billion in funding, notably buoyed by Microsoft’s $10 billion investment into OpenAI.
Forbes’ methodology is rigorous: starting with an open call for nominations, they evaluate thousands of contenders based on qualitative and quantitative criteria, including business models, technical talent, and AI-enabled technology usage.
The selection process is highly competitive, with a record 1,932 submissions this year. An algorithm developed by Sequoia Capital assesses financial performance, company culture, and diversity metrics, followed by scrutiny from expert AI judges and AI investors.
The final AI 50 list, alphabetically ordered, represents the pinnacle of AI innovation, guiding practitioners and enthusiasts toward the forefront of the industry.
There were 5 NY-based companies on the list:
- Hugging Face (AI model & dataset library founded 2016 & has raised $395m to date)
- Owkin (drug discovery & development founded in 2016 & has raised $304m to date)
- Runway (image & video editing software founded in 2018 & has raised $237m to date)
- Pinecone (database software founded in 2019 & has raised $138m to date)
- Hebbia (Enterprise search engine company founded in 2020 that’s raised $30m
What's Missing? 🕵️
Maryam
maryam@nyai.co
Maryam Farooq is a community builder + frequent speaker on AI, and an early-stage startup advisor. She currently serves as the Founder & Director for NYAI (New York Artificial Intelligence). She is former Co-founder & COO of generative AI startup Aggregate Intellect, one of 7 companies to graduate the CDL Toronto AI program in 2023.