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OpenAI, Anthropic, and Waymo raised $156B in February 2026. This unprecedented capital concentration signals a new phase in AI development — one focused on infrastructure and long-horizon research.
OpenAI secured $110 billion in funding during late February 2026 market turbulence that saw the Dow drop over 500 points. The fundraise stands as the largest AI investment round ever, closing amid geopolitical tensions that drove oil prices higher and Bitcoin toward $66,000.
Venture capital firms now lead large AI financing rounds after Tiger Global and SoftBank Vision Fund cut their deal count by over 95% since 2021. The 2025 cohort includes just 1,440 companies raising $50M+—half the previous cycle—as traditional VCs dominate the AI wave with higher valuations and extended exit timelines.