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ChatGPT Alternatives, Ranked by What Their Makers Are Worth
The shortlist, with the criteria stated
Every ChatGPT alternatives list ranks the chatbots. This one ranks the companies behind them, using the only scoreboard private AI has: reported valuation marks. The criteria are narrow and stated up front. The maker must sit on the Tickerless board as a private AI company, its product must be a genuine alternative assistant or search tool, and the ranking runs on its latest reported mark, with reported revenue shown wherever the board records it. OpenAI itself is the benchmark: $840 billion at its February 2026 round, on $20 billion of annualized revenue reported for December 2025.
The ranking at a glance
Claude (Anthropic), $965B, for the valuation lead. Anthropic's May 2026 Series H is the highest private mark on the board, and its company-reported revenue reached a $16.8 billion annualized pace in Q3 2026. Perplexity, $30B, for research. The answer engine's latest point is an August 2026 funding round reported to be in talks, so treat the mark as softer than a closed round; recorded revenue stands at $200 million annualized. Mistral AI, $24B, for the European alternative. A September 2026 Series D, with $400 million of annualized revenue recorded. Cohere, $7B, for the enterprise shelf. The smallest mark of the four, on $240 million of annualized revenue, which makes its revenue-to-mark ratio the richest of the shortlist.
How to read a ranking built on reported marks
These are press-reported and company-announced figures, not traded prices, and the board says so on every chart. Marks also age at different speeds: Anthropic's is its last private mark before an IPO, since the company filed its S-1 on October 26, 2026 and will leave this board once its shares price. Perplexity's latest point is talks, not a close. The ranking is a snapshot of what the market for private AI paper last said, dated at every point, which is still more than a feature list can tell you about which alternatives have staying power.
Run the comparison yourself
The full board carries Tickers for the Tickerless: 12 private AI companies and 65 reported valuation points, every one cited to its source. Set the compare view to any two alternatives and read their lines side by side. For the public-market side of the same question, the AI Hype Meter scores how loudly listed companies talk about AI in their 10-Ks, and the search page covers the whole dataset.
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