Data comes from PitchBook, as of May 1, 2025.
PitchBook defines unicorns as venture-backed companies valued at $1 billion or more after a funding round, until it goes public, gets acquired, or drops below that valuation.
Yangtze Memory, a Chinese flash memory chip developer, is 2025’s biggest unicorn so far with a $22.1 billion valuation.
The company became a unicorn, by PitchBook’s definition, in April 2025 after it secured a $222 million investment from Quanhong Investment. Even if a company’s internal or market valuation exceeds $1 billion, PitchBook’s definition requires a qualifying funding event for official unicorn status.
Abridge, an American healthcare AI startup that summarizes clinician-patient conversations into documentation, is the second-most valuable unicorn in the class of 2025.
AI-driven companies dominate the list of the biggest unicorns of 2025—such as Synthesia (AI video generation), AnySphere (AI programming assistants), and The Bot Company (AI agents)—and have attracted significant investment in recent years.
There have been 43 new unicorns created in 2025, as of May. The largest share (65%) of new unicorns in 2025 are from North America, followed by Europe (23%).
Currently, the most valuable unicorns in the world are ByteDance, the creator of TikTok, and Elon Musk’s SpaceX.
Source: Visual Capitalist