If Bittensor markets were fully developed AI startups, their combined market valuation could range between $100B - $200B+, competing with centralized Companies like OpenAI, Anthropic, and CoreWeave. That's what Dyanmic $TAO is about to do. Based on 64 Subnets, what happens when we scale to thousands? With 21 million design and halvenings!

Here is how:

I'll group these subnets into key AI industry sectors that align with their functionality.

▫️AI Model Development (Foundation Model Providers)

•Comparable Companies: OpenAI, Anthropic, Mistral, Hugging Face

•Subnets: SN 9, SN 29, SN 39, SN 11, SN 21, SN 37, SN 38, SN 3, SN 5, SN 35, SN 56, SN 58

•Market Valuation Estimate: $50B+ (OpenAI alone is estimated at $90B)

•Subnet Value Range: $100M - $3B each, depending on specialization

▫️Generative AI (Text, Image, and Audio)

•Comparable Companies: Midjourney, Stability AI, OpenAI (DALL-E, Whisper)

•Subnets: SN 4 (Targon), SN 19, SN 2, SN 54, SN 17, SN 18, SN 23, SN 26, SN 50, SN 46

•Market Valuation Estimate: $30B+

•Subnet Value Range: $100M - $2B

▫️Agentic AI (Autonomous Agents & AI Assistants)

•Comparable Companies: Adept AI, OpenAI (GPT Agents), AutoGPT, Rabbit R1

•Subnets: SN 1 (Apex), SN 45, SN 62 (AgentTao), SN 59, SN 20, SN 10

•Market Valuation Estimate: $20B+

•Subnet Value Range: $500M - $2B

▫️Predictive AI & AI Trading

•Comparable Companies: Numerai, PredictIt, Jane Street (AI-powered HFT)

•Subnets: SN 6 (Infinite Games), SN 30 (BetTensor), SN 41 (Sportstensor), SN 28 (Foundry S&P 500 Oracle), SN 44 (Score Predict), SN 48 (NextPlace AI), SN 57 (Gaia)

•Market Valuation Estimate: $10B+

•Subnet Value Range: $200M - $1.5B

▫️AI Compute Providers

•Comparable Companies: CoreWeave, Lambda Labs, Together AI

•Subnets: SN 51 (Celium), SN 64 (Chutes), SN 12 (Horde), SN 27 (Neural Internet)

•Market Valuation Estimate: $15B+

•Subnet Value Range: $500M - $5B each

▫️AI Data Pipelines & Data Labeling

•Comparable Companies: Scale AI ($14B), Snorkel AI ($1B), Labelbox ($1.3B)

•Subnets: SN 24, SN 13, SN 33, SN 40, SN 42, SN 52

•Market Valuation Estimate: $10B+

•Subnet Value Range: $300M - $2B

▫️AI Components & Tooling (Model Optimization, Deployment, Fine-tuning)

•Comparable Companies: Hugging Face, MosaicML ($1.3B)

•Subnets: SN 47, SN 31, SN 15, SN 49

•Market Valuation Estimate: $8B+

•Subnet Value Range: $300M - $1.5B

▫️AI-Powered Tools (Specialized AI Applications)

•Comparable Companies: Quora (Poe), Perplexity AI, BloombergGPT, DeepL

•Subnets: SN 34, SN 61, SN 32, SN 53, SN 8, SN 14, SN 22, SN 54

•Market Valuation Estimate: $8B+

•Subnet Value Range: $200M - $1.5B

▫️Scientific Research (DeSci)

•Comparable Companies: Protocol Labs, Biotech-focused AI startups

•Subnets: SN 25, SN 43, SN 36

•Market Valuation Estimate: $5B+

•Subnet Value Range: $200M - $1B

▫️General Infrastructure (Decentralized AI Infrastructure)

•Comparable Companies: Bittensor itself, Akash Network

•Subnets: SN 16 (BitAds), SN 7 (SubVortex)

•Market Valuation Estimate: $5B+

•Subnet Value Range: $300M - $1B

Step 2: Summing the Estimated Market Value

Adding up the projected values from each category:

While this is a broad estimate, AI markets often have overlapping applications, so a reasonable adjusted valuation would be:

Low estimate: $100B (accounting for overlap and market competition)

High estimate: $200B+ (if the network captures significant adoption) 

▫️Valuation Per Subnet

•Top-tier subnets (major LLMs, compute, predictive AI): $2B - $5B+

•Mid-tier subnets (agentic AI, data pipelines, AI tools): $500M - $2B

•Smaller specialized subnets (niche AI markets, early-stage growth): $100M - $500M

This analysis shows the incredible potential upside of $TAO, as these markets are still in early development stages. If adoption accelerates and these AI markets keep growing at their current pace, Bittensor could capture a massive share of decentralized AI's future market.