Morningstar, Inc. announced the launch of the Morningstar PitchBook GenAI 20 Index on January 15, 2026. The new perpetual benchmark tracks the performance of pure‑play generative‑AI companies as they transition from private markets into public listings, giving investors continuous exposure to this emerging sector.
The index is built on Morningstar’s PitchBook data, which supplies detailed private‑market intelligence on companies advancing core generative‑AI technologies such as machine learning, natural language processing, computer vision, and agentic AI. It tracks a curated set of firms—including OpenAI, Anthropic, Databricks, xAI, and Cohere—providing a durable framework for measuring and comparing GenAI leadership across the private‑to‑public lifecycle.
By launching the GenAI 20 Index, Morningstar expands its product portfolio and strengthens its competitive moat in the convergence of public and private markets. The move positions the company to capture growing demand for AI‑focused investment strategies and signals a deeper commitment to integrating AI into its own operations, such as the “Mo” chatbot and AI‑driven data supply chain enhancements.
Sanjay Arya, Head of Innovation at Morningstar Indexes, said, “Staying at the forefront of innovation in generative AI requires a clear view of opportunities across both public and private markets. This new index helps provide clarity to one of the most important growth themes of the next decade.” Dimitri Zabelin, Senior Investment Research Analyst at PitchBook, added, “Unlike prior waves of innovation, generative AI’s horizontal nature allows core generative models to influence nearly every sector simultaneously, reshaping workflows, products and decision‑making at unprecedented speed.”
The launch comes amid a generative‑AI market that is experiencing significant growth, with PitchBook forecasting substantial increases in capital investments and revenue from GenAI companies. Morningstar’s integration of AI into its own analytics and the strategic use of PitchBook data give it a distinct advantage in a competitive landscape that includes other financial data and analytics providers.
The GenAI 20 Index launch signals Morningstar’s commitment to bridging private and public markets and providing investors with a benchmark for AI innovators, reinforcing its position as a leader in AI‑focused investment research.
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