AI startups capture 90% of global venture capital in February

According to a new report from venture capital data provider Crunchbase, artificial intelligence continues to dominate the venture world. The report details that a record $189 billion of global venture capital flowed to startups in February. Within this massive pool of capital, AI startups overall raised $171 billion, which represents 90% of the total capital raised last month. The report from Crunchbase emphasizes that this record-breaking month of funding represents a significant milestone for the global venture capital market.

This record spending was dominated by mammoth funding rounds from just three companies: OpenAI, Anthropic, and Waymo. These three entities raised the vast majority of the capital deployed during the month. The specific details of these funding rounds, along with the valuations—which represent the estimated worth of each company—illustrate the scale of these transactions:

• OpenAI: The company raised a $110 billion funding round. This transaction valued the company at $730 billion, which represents the estimated worth of the company.
• Anthropic: The company secured a $30 billion Series G round, which is a late-stage venture funding round. This round valued the company at a valuation of $380 billion.
• Waymo: The autonomous driving technology company raised a $16 billion funding round. This transaction valued the company at a valuation of $126 billion.

The concentration of capital in these three entities highlights a significant trend in the global venture ecosystem. These three companies alone were responsible for 83% of the venture dollars raised last month. This means that the vast majority of the $189 billion in global venture capital was concentrated in just three transactions. According to Crunchbase, the amount raised by OpenAI, Anthropic, and Waymo last month was one-third of the total $425 billion venture spend recorded globally in 2025. This comparison highlights the extreme concentration of capital in AI, as a single month of funding for three companies rivaled a significant portion of the entire previous year’s global venture activity. This trend indicates that venture capital is increasingly being directed toward a small number of highly valued AI companies rather than being distributed broadly across the startup ecosystem.

Why it matters

The massive funding rounds for OpenAI, Anthropic, and Waymo accounted for 83% of all venture capital raised in February, highlighting the extreme concentration of capital in AI.