Morningstar Unveils New Index to Track Top Generative AI Firms

Morningstar Inc. has introduced a new investment benchmark designed to capture the value of the most significant generative AI companies before they go public. The Morningstar PitchBook GenAI 20 Index, launched on January 15, 2026, tracks 20 private firms whose primary business is building and deploying generative AI models.

The index, which weights companies by their latest private valuations, includes prominent names like OpenAI, Anthropic, Databricks, xAI, and Cohere. It deliberately excludes hardware manufacturers and service providers, focusing instead on the core software developers. This offers investors a focused view of a sector that is fundamentally altering how software is created and used globally.

"Many companies defining generative AI's future are still private and absent from standard market benchmarks," said Sanjay Arya of Morningstar Indexes. The new tool aims to provide transparency as the lines between public and private markets continue to blur.

The launch coincides with another strategic move by Morningstar. A day earlier, the company announced it will become the sole provider of index services for a major UK wealth management association, expanding its footprint in that critical market.

For Morningstar shareholders, these developments are seen as reinforcing the firm's brand and its crucial data franchise, particularly through its PitchBook subsidiary. While not an immediate earnings driver, the index could pave the way for new financial products and deepen client reliance on Morningstar's data as these AI companies mature and eventually pursue public listings.

Source: Webpronews