Economy · ValuationsLive · 71 companies · 66.1x avg P/S · $21.0T total
AI Valuations · Tracked
Every AI company valuation. Every P/S multiple. Ranked against the SaaS benchmark to answer one question: are AI companies overvalued?
$21.0T total market cap66.1x avg P/S ratio15x SaaS benchmarkRefreshed daily
71
Companies Ranked
66.1x
Avg P/S Ratio
$21.0T
Total Market Cap
34
With Revenue
P/S ratio ladder
34 companies with reported revenue · SaaS benchmark 15x
Healthy SaaS = 15x>30x = overheated
Valuation tiers
7
$1T+
15
$100B+
14
$10B+
30
$1B+
3
<$1B
Public vs Private
26
Public companies
$24.7T
45
Private companies
$1.9T
AI vs Dot-com · Valuation context
how today's AI multiples compare to historical tech bubbles
Dot-com Peak (2000)
~30x
Avg tech P/S ratio
Before the crash wiped 78% off the NASDAQ
AI Today (2025)
66.1x
Avg AI P/S ratio
Across 34 companies with reported revenue
SaaS Benchmark
15x
Healthy SaaS P/S
The floor for sustainable high-growth tech
AI multiples have exceeded dot-com peak levels. History does not repeat, but it rhymes.
Unlike the dot-com bubble, AI investment is primarily funded by Big Tech cash reserves (Google $175B, Meta $125B, Microsoft $150B capex), not debt. The capital source is fundamentally different — these companies are generating real revenue, which means this premium could sustain longer than dot-com levels did.
278%
The AI Bubble Index is currently 278%
frothy · AI is valued at 2.2x what it earns
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