OpenAI
12%
DeepSeek
3.9%
Alibaba
3.4%
Mistral
1.1%
xAI
2.1%
Anthropic
32%
Google
19%
None in 2026
49%
Z.ai
0.3%
200–300B
2%
No IPO by De...
15%
400–600B
16.9%
<100B
5.2%
600B+
80%
300–400B
1.8%
100–200B
1.3%
85%
chance
100–200B
1.8%
200–300B
0.7%
300–400B
1%
400–600B
1.5%
600B+
2.2%
No IPO by Ju...
93.9%
<100B
0.3%