Uback segment Artificial intelligence › Models › Foundation models

Beijing developer of the GLM language models, deployed mostly on-premise for Chinese banks, public bodies and energy groups; listed in January 2026.

Zhipu AI and its private challengers · Foundation models

Non-listed foundation models companies ranked by Uback, with Zhipu AI and the other listed pure players shown in grey at their market value on the ranking date (9 Oct 2026). Listed companies are never ranked.

#	Company	Valuation
1	AnthropicUnited States	≈ USD 1400bnHectocorn · AI estimate	Back
2	OpenAIUnited States	≈ USD 1100bnHectocorn · AI estimate	Back
—	Zhipu AIChina · Listed · HKEX · 2513	about HKD 557bn (USD 71bn)Market cap · Sep 2026
3	Safe Superintelligence (SSI)United States	≈ USD 32bnDecacorn · AI estimate	Back
4	Reflection AIUnited States	≈ USD 28bnDecacorn · AI estimate	Back
5	Mistral AIFrance	≈ USD 24bnDecacorn · AI estimate	Back
6	Thinking Machines LabUnited States	≈ USD 22bnDecacorn · AI estimate	Back
7	CohereCanada	≈ USD 18bnDecacorn · AI estimate	Back
—	MiniMaxChina · Listed · HKEX · 0100	about HKD 85bn (USD 11bn)Market cap · Sep 2026
8	Ineffable IntelligenceUnited Kingdom	≈ USD 5.1bnUnicorn · AI estimate	Back
9	Recursive SuperintelligenceUnited States	≈ USD 4.7bnUnicorn · AI estimate	Back
10	AMI LabsFrance	≈ USD 4.5bnUnicorn · AI estimate	Back
11	Humans&United States	≈ USD 4.5bnUnicorn · AI estimate	Back
12	Sakana AIJapan	≈ USD 2.6bnUnicorn · AI estimate	Back
13	Liquid AIUnited States	≈ USD 2.4bnUnicorn · AI estimate	Back
14	General IntuitionUnited States	≈ USD 2.3bnUnicorn · AI estimate	Back
15	Preferred NetworksJapan	≈ USD 2bnUnicorn · AI estimate	Back
16	Sarvam AIIndia	≈ USD 1.5bnUnicorn · AI estimate	Back
17	Nous ResearchUnited States	≈ USD 1.5bnUnicorn · AI estimate	Back
18	UpstageSouth Korea	≈ USD 1.2bnUnicorn · AI estimate	Back
19	Arcee AIUnited States	≈ USD 1.1bnUnicorn · AI estimate	Back
20	Prime IntellectUnited States	≈ USD 1bnUnicorn · AI estimate	Back
21	Adaption LabsUnited States	≈ USD 1bnUnicorn · AI estimate	Back
22	Reka AIUnited States	≈ USD 1bnUnicorn · AI estimate	Back
23	ZyphraUnited States	≈ USD 1bnUnicorn · AI estimate	Back
24	Essential AIUnited States	≈ USD 290MHundreds of M$ · AI estimate	Back
25	Inception LabsUnited States	≈ USD 260MHundreds of M$ · AI estimate	Back
26	Deep CogitoUnited States	≈ USD 220MHundreds of M$ · AI estimate	Back
27	NdeaUnited States	≈ USD 220MHundreds of M$ · AI estimate	Back

Declare an interest in Foundation models   Full Foundation models ranking →

Figures as published by the company and market data, at the date shown.

Uback is a content publisher. It ranks non-listed companies only and gives no opinion on listed companies: the figures above are facts as published, at the date shown, never a recommendation. No intention can be declared on a listed company. Method