Finbold has research found that during the first quarter of 2025, as many as 48% of the 23 startups that attained unicorn status – exceeded $1-billion in valuation – were involved with the artificial intelligence (AI) sector.
In addition, 70% of these AI unicorns are concentrated in the top 10 biggest startups, as seven out of 11 fall within the range between $1,6-billion and $2,8-billion.
Most artificial intelligence startups are from the US, though two emerged in the UK, one in Israel, and one in Sweden. Interestingly, given the recent developments in the country, none of the billion-dollar startups were located in China in 2025.
Regarding specialisation, a plurality of 45% of these firms are involved with healthcare technology, including the biggest new unicorn, Abridge.
While there is a significant synchronisation between company valuation and funding received, it is noteworthy that the second-smallest of the new unicorns – the UK’s Cera – received the most money from venture capitalists at $582-million.
Cera simultaneously showcases that many of these companies aren’t new, as it was founded in 2016, but also that AI continues to have the ability to draw massive investments from institutional investors as much as from retail traders.
Andreja Stojanovic, a co-author of this research, points out: “Given AI’s explosive growth, it’s surprising that even more AI unicorns haven’t emerged in 2025. Artificial intelligence has been a major driver of growth since the public release of ChatGPT in late 2022.
“Publicly traded companies that are either directly involved with the technology or strongly linked to the sector in investor perception have been some of the strongest stock market performers in recent years.”
At face value, Finbold concludes that it appears certain 2025 will feature many more AI unicorns. However, recent disruptions in the sector that emerged from China, as well as the fears that the US may have already entered a recession, could diminish venture capital spending.