Creators of Genshin Impact — the most expensive game developer of modern times among private companies

Hurun’s latest list of the world’s most valuable private companies is out. Neural-network outfits take up most of the top spots, yet miHoYo has forced its way into the top 25. The studio behind Genshin Impact is now valued at $30B — the highest in the gaming cohort. By contrast, the next player from the games space, Lilith Games, sits way down (late 300s) at $4.4B, which makes the gap feel almost absurd. Note: the ranking only includes private firms founded after 2000. A few yrs ago miHoYo’s valuation was only a fraction of this; the climb has been fast, maybe too fast for those looking for slow, steady growth — market forces vs. product momentum, take your pick. Sources: hurun