The pace of decacorn startups, valued at $10 billion or more, has hit a record high.

Axios reported on Oct. 9 that PitchBook data showed it took companies worldwide an average of 5.5 years to reach decacorn status in 2025. That was nearly half the 9.4 years in 2020. It was also shorter than the average 8 years it took companies to become unicorns in 2020.

A total of 42 decacorns have been created worldwide so far this year. There are three months left in the year, but it is already a record. The previous record was 34 in 2021. The number of decacorns is expected to rise further. Modal, founded in 2021, is preparing to raise funds at a valuation of $15 billion.

Seventeen of the 20 companies that reached decacorn status the fastest emerged in 2025 and 2026. All of them joined the decacorn ranks in about three years.

Discovery Loop, founded in August by former Google chief scientist Jeff Dean (제프 딘), was reported to have targeted a $10 billion valuation from the start. If achieved, it would be the fastest decacorn on record. Business Insider reported the target valuation for Discovery rose to as high as $50 billion last month.

Companies founded before the AI boom are also joining the decacorn ranks. The average age of companies newly becoming decacorns this year rose to 7.1 years. Axios said that reflected 16 companies more than eight years old joining the group. Examples include Cerebras, Shield AI, SambaNova, Fluidstack, Airwallex, NinjaOne and Hoop.

Becoming a decacorn does not guarantee long-term success. Axios pointed to the case of Webvan as an example. Cracks are also appearing in the initial public offering market. Axios said November has emerged as a key test as IPO delays and withdrawals continue.