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Largest Pure-Play AI Software Public Companies

Benchmark revenue and EBITDA valuation multiples for public comps like Palantir, Snowflake, MiniMax Group, IonQ and UiPath.

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United States
$145
+23%
$347B
$340B
66.0x
124.9x
United States
$170
+7%
$58B
$58B
11.8x
79.9x
China
$93
--
$29B
$28B
—
—
United States
$38
+40%
$14B
$13B
81.4x
(57.8x)
United States
$11
-10%
$6B
$4B
2.7x
11.3x
United Arab Emirates
$1
+87%
$6B
$5B
5.7x
22.1x
China
$3
+30%
$3B
$3B
—
—
China
$1
+31%
$2B
$2B
—
—
India
$15
-15%
$2B
$2B
6.6x
29.3x
United States
$16
-29%
$2B
$2B
3.4x
14.7x
India
$9
--
$1B
$1B
4.1x
27.3x
United States
$9
-61%
$1B
$548M
2.1x
(2.8x)
China
$3
+0%
$1B
$965M
7.8x
66.4x
United Kingdom
$3
+18%
$1B
$1B
9.1x
(22.7x)
Japan
$20
+14%
$631M
$582M
3.1x
14.3x
China
$6
+13%
$606M
$559M
17.7x
64.7x
Japan
$5
-35%
$527M
$470M
1.6x
9.8x
United States
$2
+43%
$474M
$4B
1.4x
13.9x
China
$2
+48%
$393M
$421M
—
—
Canada
$4
-11%
$377M
$294M
2.0x
(457.8x)
Japan
$4
+114%
$365M
$358M
4.8x
29.2x
China
$1
+18%
$324M
$195M
0.9x
—
Australia
$1
+113%
$318M
$270M
1.1x
18.0x
Japan
$10
+70%
$257M
$233M
—
—
South Korea
$18
-13%
$230M
$208M
—
—
South Korea
$8
-10%
$217M
$160M
—
—
Italy
$2
+22%
$209M
$214M
4.4x
23.9x
Japan
$19
+18%
$186M
$168M
7.1x
—
Japan
$17
+9%
$172M
$172M
—
—
Japan
$10
-4%
$159M
$100M
3.2x
—
Spain
$10
-1%
$129M
$129M
—
—
Singapore
$3
-55%
$107M
$110M
—
—
South Korea
$8
-10%
$104M
$71M
—
—
Japan
$13
-11%
$104M
$96M
8.7x
—
South Korea
$11
--
$99M
$72M
—
—
United States
$3
-28%
$97M
$86M
5.6x
—
Israel
$2
+35%
$86M
$77M
—
—
Japan
$5
-20%
$83M
$70M
5.7x
—
South Korea
$11
+7%
$81M
$82M
—
—
Canada
$0
+19%
$67M
$66M
—
—
France
$6
-74%
$40M
$30M
—
—
Spain
$0
-37%
$34M
$37M
—
—
Italy
$2
+36%
$32M
$35M
2.3x
15.5x
Sweden
$0
-24%
$31M
$58M
—
—
United Kingdom
$0
-51%
$25M
$27M
—
—
Poland
$12
--
$16M
$16M
—
—
Sweden
$4
-41%
$16M
$16M
—
—
Norway
$0
+21%
$11M
$9M
—
—
Canada
$1
-93%
$8M
$10M
—
—
United Kingdom
$1
--
$4M
$5M
—
—
China
$0
-93%
$3M
$47M
—
—
Poland
$0
+70%
$1M
$1M
—
—

Financial data powered by FactSet and Morningstar. Valuation multiples as of last 12 months. For more data, start your free trial here.

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