State of AI World — week of 2026-10-17

The map tracks $38.26T of market value across 192 companies. Like for like, the same companies are up 9.0% since 2026-07-27.

Movers

• Modal +238.7% ($4.65B → $15.75B)
• Ramp +36.4% ($44B → $60B)
• Alibaba / Qwen +3.2% ($263B → $271.4B)
• IBM +2.4% ($213.5B → $218.7B)
• Tencent +1.6% ($471.7B → $479.4B)
• Boost Run -26.4% ($960M → $707M)
• Zhipu / Z.ai -26.0% ($43.5B → $32.18B)
• CoreWeave -24.7% ($44.99B → $33.86B)
• Nebius -24.7% ($59.73B → $44.98B)
• Cerebras -24.2% ($39.89B → $30.22B)

New on the map

Firmus, TypeSafe AI, TeraWulf, IREN, Applied Digital, Cipher Digital, Core Scientific, Microsoft Maia, Decart, CXMT — each passed the two gates: a sourced valuation ≥ $100M and at least one mappable relationship.

Relationships

25 edges added, including: NVIDIA invested in Firmus, Alphabet committed capacity to TeraWulf, Alphabet committed capacity to Cipher Digital, Microsoft acquired Microsoft Maia, Alphabet invested in Physical Intelligence, NVIDIA invested in Decart.

Window: 2026-10-09 → 2026-10-17 · every figure links to a source on the map · by Han.