Welcome to the hectocorn era: 7 tech startups valued at $100 billion or more

In a remarkable shift from the past, tech startups are now striving for a new milestone: the hectocorn status, defined as a valuation exceeding $100 billion. This transition marks a significant evolution from the unicorn phase, where companies aimed for a $1 billion valuation. Industry giants like OpenAI and SpaceX are leading this transformation, and the list of hectocorns is gradually expanding. Waymo, the autonomous vehicle venture under Alphabet Inc., is poised to potentially join this elite group. Recent reports indicate that Waymo is in discussions to secure billions in funding, which could elevate its valuation beyond the $100 billion mark. Among the trailblazers in this new era is OpenAI, the brainchild behind ChatGPT. Founded in 2015 by Sam Altman and others, OpenAI has skyrocketed to prominence since its AI chatbot launch in 2022, attracting a staggering number of users and achieving a valuation of $500 billion in October after a secondary share sale. Current discussions suggest that OpenAI aims to raise additional funds at a jaw-dropping $750 billion valuation. SpaceX, founded by Elon Musk in 2002, has also made headlines with its ambitious goal of making life multi-planetary. With over 320 successful launches and contracts with NASA, SpaceX was once the most valuable private company but was surpassed by OpenAI. However, it is on the verge of conducting its own secondary share sale, potentially valuing it at $800 billion, with plans for an initial public offering in 2026 that could see its valuation soar to $1.5 trillion. Founded in 2021 by former OpenAI employees, Anthropic is another AI startup making waves, boasting a valuation of $183 billion as of September. Reports suggest that an increased investment from Google could push Anthropic's value past $350 billion. ByteDance, best known for the viral social media platform TikTok, has experienced explosive growth since its 2016 launch. It recently valued itself at $330 billion, with estimates from Fidelity placing it even higher at $380 billion. Databricks, a software and AI company founded in 2013, has developed a Data Intelligence Platform that optimizes cloud infrastructure using generative AI. It recently announced a funding round that raised its valuation to $134 billion. Stripe, the online payment processor founded by brothers John and Patrick Collison in 2010, has seen its value spike to $106.7 billion, securing its place among the hectocorns. Meanwhile, Elon Musk's latest venture, xAI, focuses on developing AI tools and has been valued at up to $80 billion after acquiring X, formerly Twitter. Reports suggest that it may be seeking further investment at a valuation of $230 billion. These startups not only signify a new benchmark in valuation but also reflect the rapidly evolving landscape of the tech industry, with innovation and investment driving unprecedented growth.