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Led mainly by artificial intelligence, semiconductors and new energy, China developed 56 new unicorns in 2023, following the United States' 70 such firms, according to a global unicorn index released on Tuesday. |
The Global Unicorn Index 2024 is a ranking of the world's start-ups founded after 2000 that are worth at least 1 billion US dollars and not yet listed on a public exchange. |
There are a total of 1,453 unicorn enterprises in the world, with a total market value of 4.6 trillion US dollars. China alone has 340 unicorn enterprises, ranking second worldwide, while the United States takes first place, with a total of 703. China's unicorn enterprises are mainly in the sectors of artificial intelligence, semiconductors and new energy, said the report. |
The world has minted one unicorn — privately held startups with valuations of $1 billion or more — every two days over the past year to take the total of known unicorns in the world to a new record, according to the index, which was released by the Hurun Research Institute in Guangzhou, capital of Guangdong province. |
Since 2019, the number of unicorns has tripled from 494 to 1,453. They are based in 53 countries and 291 cities, ushering in an explosion of new technologies to the market, according to the index. |
AI has become one of the fastest-growing sectors in 2023. In China, one-year-old Beijing-based Moonshot AI and two-year-old Shanghai-based MiniMax are leading the way for ChatGPT-like products, according to the index. |
ByteDance, based in Beijing, has become the world's most valuable unicorn for three consecutive years, running with a value of $220 billion, the index indicated. |
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