This analyst note examines the gap between OpenAI’s valuation and its underlying fundamentals ahead of a potential IPO.

This analyst note examines SpaceX’s S-1 filing ahead of its expected record-breaking IPO, analyzing the company’s AI-focused positioning against the economic reality of its business segments.

The Q1 2026 Global Unicorn Tracker provides a comprehensive analysis of VC-backed companies valued at $1 billion or more, covering deal activity, valuations, exits, and the PitchBook Business Quality framework and offering perspective on the biggest trends shaping the unicorn landscape.

This analyst note examines OpenAI’s IPO readiness challenges, including infrastructure obligations, governance concerns, and competitive pressures that may delay its public listing.

This analyst note examines SpaceX’s proposed acquisition of Cursor, analyzing the deal’s unusual structure and what it signals about xAI’s competitive position against OpenAI and Anthropic.

This analyst note introduces a framework for evaluating frontier AI companies across five dimensions that determine long-term enterprise value creation.

This analyst note offers a granular, independent look at SpaceX’s financials to value the opportunity and learn about key business drivers.