Stripe
Anduril
SpaceX
OpenAI
Anthropic
Databricks
Shield AI
Project Prometheus
Lambda Labs
Crusoe Energy1 Companies that received the most ticket and profile view activity over the last 30
days
| Companies | Robustness Score2 | Chg vs. LR3 | Last Round Date |
|---|---|---|---|
| Crusoe Energy | 7 | +99.7% | Oct-25 |
| OpenAI | 7 | +60.1% | Oct-25 |
| Shield AI | 3 | +51.5% | Feb-25 |
| Lambda Labs | 7 | +39.9% | Nov-25 |
| SpaceX | 5 | +37.5% | Jan-26 |
| ElevenLabs | 3 | +28.2% | Jan-26 |
| Databricks | 7 | +11.6% | Dec-25 |
| Anduril | 8 | +6.7% | Apr-26 |
| Glean | 3 | +4.8% | Jun-25 |
| Project Prometheus | 7 | -0.0% | Apr-26 |
| Together AI | 5 | -1.8% | Apr-26 |
| Zipline | 5 | -7.8% | Dec-25 |
| PsiQuantum | 3 | -9.5% | May-25 |
| Ramp | 3 | -12.5% | Nov-25 |
| Perplexity AI | 7 | -13.7% | Jan-26 |
| Lightmatter | 3 | -26.3% | Oct-24 |
| Anthropic | 4 | -29.2% | May-26 |
| Kraken | 8 | -35.0% | Nov-25 |
2 ZXData Robustness Score is an internally developed metric to assign confidence levels
to the underlying data used in constructing ZXData output metrics. The ZXData Robustness Score is
calculated on a scale of 1 to 10 for each company, based on the number of executed trades, number of
buy and sell orders submitted to ZX and skewness of the order book.
3 ZX Index Value is an internally developed metric that reflects secondary values for
private companies using an algorithmic approach based on the values sourced from ZX and ZXData
partners. The algorithm used to calculate ZX Index Values incorporates both executed transaction
values and bid and ask pricing.
Zanbato’s Equal-Weighted Index, which tracks secondary market performance of ZX’s most actively traded companies, increased 1.9% in May. Among the most active sectors, Data & Analytics is up 5.5% YTD; E-Commerce is down 2.6% YTD; Cybersecurity is up 12.1% YTD; SaaS is down 2.5% YTD; FinTech is up 7.0% YTD; Crypto & Blockchain is down 3.3% YTD; Aerospace & Defense is up 4.7% YTD; AI & Machine Learning is up 20.2% YTD
Overall, ZX’s average bid-ask spread was 11% in May, 0% lower than the last 12-month average.
Bids represented 55% of submitted tickets in May, 5% higher than the last 12-month average of 50%.
Stripe,Anduril, and SpaceX were the three most active companies on ZX in May.
On average, the ZX Index Values for May were at a 11.3% premium to the last round price per share.
This report is provided for informational purposes only and does not constitute a recommendation or solicitation to buy or sell any financial instrument or to participate in any trading strategy and should not be construed as such. The values shown in this report are not indicative price quotations. This report does not constitute investment advice, nor does this report constitute a "research report" as defined by FINRA Rule 2241 or a "debt research report" as defined by FINRA Rule 2242.
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