- Silicon Valley Bank data cited by Andreessen Horowitz showed the median age of new unicorns has fallen about 37% since 2023 to just over four years.
- Companies founded in 2022 increased median revenue from $2.8 million in their third year to $5.6 million in their fourth year.
- The analysis cautioned that available data do not establish AI as the sole cause of faster revenue growth and earlier unicorn valuations.
Andreessen Horowitz cited Silicon Valley Bank data on Sept. 18, 2026, showing that the median new private company valued at more than $1 billion is just over four years old, about 37% younger than in 2023. The finding matters because the latest generation of startups is reaching unicorn status much earlier, while companies founded in 2022 have also recorded stronger median revenue growth than older cohorts.
According to the a16z post, the median age of all unicorns is 15 years, indicating that the broader pool of venture-backed companies worth more than $1 billion continues to age even as newer businesses attain that valuation sooner.
New cohorts report faster revenue growth
For companies founded in 2022, median revenue doubled from $2.8 million in their third year of operation to $5.6 million in their fourth year, according to the a16z analysis. The median growth rate between those years was roughly three times that of older cohorts, whose revenue increased from about $2 million to $3 million over the corresponding period.
The analysis linked the shift to the post-ChatGPT generation of startups but said it was too early to conclude that AI caused the difference. Results from companies founded in 2023 and 2024 will be needed to assess whether the pattern persists, while a growing share of investment flowing to non-software companies is also changing the composition of the market.
More broadly, the analysis said capital is concentrating in a relatively small number of companies creating significant value as AI adoption spreads. However, it said the effects of AI remain difficult to separate from wider changes in investment trends.
Startups prioritize profitability
AI adoption and higher interest rates have also coincided with a change in startup priorities. Beginning in the first quarter of 2022, companies across all sectors tracked by SVB gradually exchanged rapid expansion for improved profitability.
Median revenue growth declined from a range of 40% to 70% to between 15% and 30%. At the same time, margins improved from deeply negative levels to near break-even.
Companies founded during the previous venture cycle face a different environment. After a record number of businesses were formed, closures have also reached record levels, with companies launched during the peak zero-rate period accounting for the largest share.
B2B software-as-a-service companies represented more than one-quarter of all startup closures in the first half of 2026, according to SimpleClosure. The share of AI companies among those closures has been gradually declining.
Large AI and robotics funding rounds return
The AI and robotics market is also seeing a resurgence in large investment rounds. Startups are raising billions of dollars to develop “supertraining” AI, humanoid robotics and physical AI, with major technology companies and government entities appearing more frequently among investors.
Recent transactions cited in the source include a $1.1 billion round for Ineffable Intelligence, a targeted $6 billion valuation for Linkerbot and up to $1.4 billion for NEURA Robotics, with participation from Tether, NVIDIA, Amazon and Qualcomm.
Source: Incrypted
