Forge Reports AI-Driven Private Markets Rally

Forge's Q1 2026 Investment Outlook reports private-market activity in 2025 was dominated by AI, with mid- and late-stage companies raising $154.9 billion versus $75.5 billion in 2024; OpenAI and Anthropic attracted $40 billion and $16.7 billion respectively. The AI Basket appreciated 191.3% for the year, AI firms made up 45% of trading volume, and Forge's indices show AI returns of 80.2% versus 40.8% for non-AI, while fintech and cybersecurity lagged late-year.