Venture capitalists poured $192.7 billion into AI startups so far this year — setting new global records and putting 2025 on track to be the first year where more than half of total VC dollars went into the industry, according to data provider PitchBook.
Most of the capital went to established startups – Anthropic and xAI both raised billions in funding this quarter — while some other lesser-known upstarts struggled, especially companies that are not focused on AI. The hangover of a tight environment for public listings and acquisitions has also left some venture investors unwilling to make new bets on unproven companies, PitchBook found.
