Forge Global Announces the 2025 Edition of the Private Magnificent 7, Now Representing Over a Trillion in Value

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SAN FRANCISCO--(BUSINESS WIRE)--Sep 19, 2025--

Forge Global Holdings, Inc. (“Forge”), a leading provider of marketplace infrastructure, data services, and technology and investment solutions for the private market, today announced the 2025 edition of the Private Magnificent 7 (“Private Mag 7”), reflecting the extraordinary surge in private market valuations and the rising dominance of artificial intelligence and frontier technologies that have pushed the private market to new heights.

This year’s refreshed list features a sharper focus on AI-driven innovation, with Anthropic, xAI, and Anduril joining OpenAI, Databricks, SpaceX, and Stripe. These companies are the highest valued and among the fastest growing companies in the private market as of today. They represent the epicenter of private market growth, attracting record levels of capital and driving liquidity across the ecosystem.

Since the beginning of 2023, the combined value of the seven companies that make up the Private Mag 7 has quadrupled from $264 billion to $1.2 trillion, underscoring the unprecedented scale and momentum reshaping the private market landscape. The performance of the private cohort bested that of the Public Magnificent 7, which includes Alphabet, Amazon, Meta, Microsoft, NVIDIA and Tesla. Over the past year, the Private Magnificent 7 grew 96% while the Public Magnificent 7 grew 34%. That means a $1,000 investment in the private group of seven a year ago would have returned $620 more than a $1000 investment in the Public Magnificent 7.

“The Private Magnificent 7 have become bellwethers for private market performance,” said Kelly Rodriques, CEO of Forge Global. “The group’s combined valuations tell a powerful story of how AI and advanced technologies are creating a gravitational pull for capital unlike anything we’ve seen in recent history. At $1.2 trillion in aggregate value, the Private Magnificent 7 not only outpaced the broader private market but has also consistently beaten traditional benchmarks, including the S&P 500 and the Public Magnificent 7. This is a defining moment for the private markets and a clear signal of where the future is being built.”

The 2025 Private Magnificent 7 constituents are:

• OpenAI – A global leader in AI, powering products like ChatGPT that have attracted over 700 million weekly active users, it operates the fastest-growing consumer application in history. It has positioned itself among the world’s most valuable private companies and is in talks for a $500 billion valuation.
• Anthropic – The creator of the Claude family of AI models, which has scaled rapidly from just 7 employees in 2021 to over 1,000 today, while raising more than $24 billion in funding, including a recent round that pushed its valuation to around $177 billion.
• xAI– The artificial intelligence company and maker of Grok LLM, founded by Elon Musk in March of 2023, has raised over $17 billion in funding and achieved a valuation of $113 billion following its merger with X (fka Twitter).
• Databricks– A leader in intelligent data analytics and AI, has achieved multiple years of growth over 50% and recently surpassed a $100 billion valuation following a funding round.
• SpaceX– Founded by Elon Musk, the space exploration technology company has dominated the commercial space launch market with over 500 successful missions and more than 50% global market share, driven by the cost efficiencies of its reusable Falcon 9 rocket. Over the past two years the company’s valuation has increased nearly 170% to around $400 billion.
• Stripe – A leading payments infrastructure company, processing roughly $1.4 trillion in transactions in 2024 while serving millions of businesses worldwide, including over half of the Fortune 100. With a valuation of $91.5 billion, it has become one of the most valuable fintech companies globally.
• Anduril – A defense technology company, which employs more than 3,500 people, has quickly established autonomous military systems with a focus on AI, increasing its valuation to $30.5 billion after a funding round led by Founders Fund.

About Forge Global

Forge (NYSE:FRGE) is a leading provider of marketplace infrastructure, data services and technology solutions for private market participants. Forge Securities LLC is a registered broker-dealer and a Member of FINRA that operates an alternative trading system. For more information, visit forgeglobal.com.

Forward-Looking Statements

This press release contains “forward-looking statements,” which generally are accompanied by words such as “believe,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “target,” “goal,” “expect,” “should,” “would,” “plan,” “predict,” “project,” “forecast,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict, indicate or relate to future events or trends or Forge’s future financial or operating performance, or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Forge’s beliefs regarding future opportunities for Forge to expand its business utilizing the next generation marketplace. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, while considered reasonable by Forge and its management, are subject to risks and uncertainties that may cause actual results to differ materially from current expectations. You should carefully consider the risks and uncertainties described in Forge’s documents filed, or to be filed, with the SEC from time to time, including in its Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. There may be additional risks that Forge presently does not know of or that it currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect Forge’s expectations, plans or forecasts of future events and views as of the date of this press release. Forge anticipates that subsequent events and developments will cause its assessments to change. However, while Forge may elect to update these forward-looking statements at some point in the future, Forge specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Forge’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. The term “smarter” as used in this press release refers to access to enhanced tools and data insights and does not insinuate assurance of improved performance.

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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

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SOURCE: Forge Global

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PUB: 09/19/2025 08:00 AM/DISC: 09/19/2025 08:01 AM

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