• Morningstar has launched the PitchBook GenAI 20 Index, a new benchmark focused on leading generative AI companies.
• The index is designed to track influential GenAI names from their private market phase through public listing.
• This creates a single measure of exposure to generative AI across both private and public markets.

Morningstar, listed as NasdaqGS:MORN, is rolling out this index while its own share price stands at $210.9. The company’s 1 year return is a 35.4% decline, with a 3 year return of a 10.9% decline and a 5 year return of a 5.4% decline. Against that backdrop, a new GenAI focused index highlights how Morningstar is leaning on its data and indexing capabilities to address one of the most talked about themes in markets.

For investors watching generative AI, the PitchBook GenAI 20 Index offers another lens on which companies are currently influential in the space and how that group changes as firms move from private funding rounds to public markets. It may also become a reference point for product creators and allocators who want a clearer benchmark for GenAI exposure, both in private portfolios and listed holdings.

Stay updated on the most important news stories for Morningstar by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Morningstar.

The PitchBook GenAI 20 Index positions Morningstar more firmly in the center of the generative AI theme by giving asset managers a way to benchmark pure play GenAI exposure across both private and public markets. For Morningstar, this leans directly on its data assets in PitchBook and its index design capabilities, which can support licensing fees and product partnerships tied to GenAI focused funds and structured products.

Morningstar narrative, how this launch might shift the story

With Morningstar’s own shares showing multi year declines, some investors have questioned how its data and indexing businesses can create new growth avenues. A dedicated GenAI index adds to the story that Morningstar is not only analyzing AI trends but also packaging them into investable benchmarks that can be used by wealth managers, ETF issuers, and institutions looking for clearer exposure to this theme.

Risks and rewards for investors watching this news

• A rules based, pure play GenAI index could deepen relationships with asset managers that want targeted AI exposure and may support index licensing revenue over time.
• Using PitchBook’s private markets data to track companies from early stages through listing may strengthen the perceived value of Morningstar’s data ecosystem.
• The commercial payoff depends on whether product issuers choose this index over competing AI benchmarks and whether GenAI remains a priority theme for capital allocators.
• Concentration in a small set of GenAI names and the early stage nature of many constituents may limit how widely some investors use the index as a core benchmark.

What to watch next

Investors may want to watch how many ETFs or structured products adopt the GenAI 20 Index, how assets linked to it evolve, and whether Morningstar extends similar private to public benchmarks into other themes. You can get more perspectives on how this fits into the broader Morningstar story by reading Community Narratives on this page.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.