xAI
Builds the Grok assistant, offered through X and its own app and API.
- Revenue
- About $500M annualised run rate in 2026 (reported)
- Value
- About $250B in the February 2026 SpaceX merger (reported)
- Growth
- 2025 revenue about $3.2B with a $6.4B operating loss, as shown in SpaceX IPO filings (reported)
- Based in
- US
- Listed
- Private
Access through a large social network gives it built-in distribution.
Its ownership and funding ties have changed, so its finances are hard to read from outside.
Money coming in
Who pays xAI, and for what.
No customers of xAI mapped yet.
Money going out
Who xAI pays to do what it does.
No suppliers of xAI mapped yet.
Where it sits on the map
Competitors and neighbours
Makes ChatGPT, the assistant most people use, and sells its models to businesses through an API.
About $13B revenue in 2025, against about $34B of costs (reported)
Open profileMakes Claude and Claude Code, and is strongest with businesses and software builders.
Annualised revenue run rate above $65B at the end of July 2026, reported from an investor update (Aug 2026)
Open profileMakes Gemini, the assistant built into Android, Search and Workspace.
25% of AI chip supply (Epoch AI)
Open profileSells Microsoft 365 Copilot inside Office and Windows, and owns a large stake in OpenAI.
20M+ users (2025)
Open profileBuilds Meta AI into Facebook, Instagram and WhatsApp, and makes the Ray-Ban glasses with EssilorLuxottica.
Sales more than tripled (H1 2025)
Open profileFrench lab with open and paid models, chosen by European firms that want data kept in Europe.
About $14B valuation (Sep 2025)
Open profileAI search engine that answers questions with cited web sources, sold free and as a paid plan.
More than $750M annualised, up from under $250M at the start of 2026 (press reports, Aug 2026)
Open profileMeeting recorder that transcribes calls and writes summaries and action points.
About $100M a year (2025)
Open profileBuilds Apple Intelligence into iPhone, Mac and iPad, and uses partner models for harder tasks.
Open profileSources: century.ae, startuphub.ai, multiples.vc
The map updates three times a week.
241 companies across 25 areas, 62 money flows and 89 openings so far. New research lands every Tuesday, Thursday and Saturday.
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