-30%

est. 2Y upside i

AI & MLSeries D+

Magic’s mission is to build safe AGI that accelerates humanity’s progress on the world’s most important problems. We believe the most promising path to safe AGI lies in automating research and code generation to improve models and solve alignment more reliably than humans can alone. Our approach combines frontier-scale pre-training, domain-specific RL, ultra-long context, and inference-time compute to achieve this goal.

Rank

#2945

Sector

AI Software Engineering / Developer Tools

Est. Liquidity

~4Y

Data Quality

Data: Low

Magic's equity offers a high-risk, low-expected-return profile.

Last updated: July 19, 2026

Bull (10%)+175%

If Magic launches product and captures market, valuation could triple to $4.5B, delivering 175% net upside after dilution.

Base (45%)-5%

Valuation modestly increases to $1.8B, but dilution results in a 5% loss.

Bear (45%)-100%

If competition stifles growth and revenue remains minimal, exit below $1.016B will wipe out common equity, resulting in -100% return.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

68%

Total preferred of $1.016B at a $1.5B valuation gives preference a 67.7% overhang; common stock will receive nothing until preferred is satisfied.

Dilution Risk

high

Given high burn rate and early stage, additional fundraising likely within 2 years, diluting common by 20%.

Secondary Liquidity

none

No secondary market observed for private shares.

Other — 2 roles

View all 2 open roles at Magic →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Magic's data — designed to show you've done your homework.

  • 1

    “How do you plan to monetize the product given the current waitlist-only model?”

  • 2

    “What is the unit economics model for your AI agents?”

  • 3

    “What is the expected timeline to liquidity and how does equity fit into your career goals?”

Community

Valuation Sentiment

Our model estimates -30% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.