Forbes' 2025 Next Billion-Dollar Startups List Highlights AI's Dominant Role in Innovation

The 2025 edition of Forbes' Next Billion-Dollar Startups list has brought to light the pivotal role artificial intelligence (AI) is playing in the startup ecosystem, with an overwhelming majority of the featured companies—20 out of 25—centering their business models around AI. This year's selection, a product of a rigorous nomination and evaluation process in collaboration with TrueBridge Capital Partners, illustrates AI's wide-ranging applications across sectors such as healthcare, accounting, defense, and the creative industries.

Forbes' Next Billion-Dollar Startups list has a commendable history of identifying future unicorns, with more than half of its past alumni achieving this coveted status. Notably, out of 250 alumni, 140 have reached unicorn status, including industry giants like DoorDash, Figma, and Anduril. The criteria for this year's list focused on U.S. venture-backed companies valued under $1 billion, taking into account the founders' vision, early market traction, investor support, and anticipated 2024 revenues, even for those currently reporting modest sales.

Highlighting the diversity and innovation within this year's list, several startups stand out for their unique applications of AI. AcuityMD, based in Boston, utilizes de-identified data to help manufacturers identify the most suitable physicians for their products. From New York, Agentio offers a marketplace that connects brands with influencers, while Graphite provides an AI assistant designed to simplify code reviews. The Los Angeles area is represented by Apex, a manufacturer of small satellites with contracts from the Department of Defense, and Stan, a platform that allows online personalities to monetize their influence through integrated storefronts.

Forterra, Maryland's sole entry on the list, has secured a $93 million contract from the U.S. Army for mine-clearing robots and is also involved in developing self-driving missile launchers for the Marines. These examples underscore not only the innovative potential of AI but also its ability to transform industries and generate significant economic value. The 2025 Forbes Next Billion-Dollar Startups list serves as a testament to the growing influence of AI in driving forward the next generation of billion-dollar companies.