Citigroup has announced a major shift in its research strategy, extending coverage to private companies, particularly fast-growing tech firms. This mirrors an earlier move by JPMorgan Chase, signaling how major banks are adapting to the evolving influence of non-listed tech players.
The initiative will focus on approximately 100 key private firms, with emphasis on industries like artificial intelligence. Rather than traditional analysis like price targets or earnings forecasts, Citi’s reports will offer insights tied to product launches, customer acquisitions, and new business models.
The move reflects the growing dominance of firms like OpenAI, SpaceX, and ByteDance (TikTok’s parent), whose market value now competes with or surpasses that of top S&P 500 companies.
A Reuters source also confirmed that JPMorgan has already been offering similar research, acknowledging the delayed public listings and rising impact of these private sector giants.
