---
title: JP Morgan Chase & Co. has begun publishing research reports on leading private companies.
description: "Marking a strategic shift as these firms wield growing influence over global markets, a source told Reuters on Friday.\n\nThe bank's first note focuses on OpenAI, the ChatGPT creator that ignited Wall Street's AI frenzy with a valuation surpassing $27?billion.\n\nAs IPO timelines stretch and private market valuations rival those of S&P 500 companies, institutional investors are seeking earlier insights into disruptors like SpaceX and TikTok parent ByteDance. \n\nIn an internal memo, JPMorgan's head of global research, Hussein Malik, said the reports will provide structured analysis and market tracking but will exclude ratings and price targets. \n\n\"Private companies are increasingly shaping industries, particularly in the new economy space,\" Malik wrote.\n\nThe timing reflects explosive growth in private markets. North America alone hosts over 1,000 unicorn startups valued above $1?billion worth nearly $4 trillion collectively, according to PitchBook. \n\nPrivate capital markets, spanning venture and private equity, reached $18.7 trillion last year and are projected to hit $24 trillion by 2029.\n\nRTTNews, Bloomberg"
---

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# [JP Morgan Chase & Co. has begun publishing research reports on leading private companies.](https://blog.syzgroup.com/syz-the-moment/jp-morgan-chase-co.-has-begun-publishing-research-reports-on-leading-private-companies)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Jul 21, 2025, 6:34:14 AM

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