AI / ML Infrastructure — multiples
Median EV / LTM Revenue across the cohort at each month end, with the 25th–75th percentile band. Membership follows the same tagging as the company counts, so a company tagged into several subsectors is included in each.
Historical median multiple
AI / ML Infrastructure · Median EV / LTM Revenue
Cross-sectional median multiple over time, with the 25th–75th percentile range shaded.
Current
3.5x
Median
6.6x
Min
1.6x
Max
12.6x
Latest point 2026-08-04: median 3.5x across 1 company.
Other subsectors in Infrastructure & Data Software
Cloud Platforms & Compute
IaaS; PaaS; container & Kubernetes platforms; serverless; cloud management & FinOps.
5
Data Platforms
Databases; data warehouse/lakehouse; data integration & ETL/ELT; streaming; data catalog, governance & quality.
4
Developer Tools
Source control; IDEs; code quality & testing; artifact/package management; low-code/no-code development.
5
DevOps & Observability
CI/CD; infrastructure automation; APM; log/metrics/traces; incident management & reliability.
3
Integration & API Infrastructure
API management; integration platforms; iPaaS; event infrastructure; identity/connectivity developer services.
0
Networking, Edge & Delivery
CDN; edge computing; application delivery; network automation; connectivity platforms.
2
IT Operations & Endpoint Management
IT service management; unified endpoint management; asset management; backup, recovery & storage software.
0