AI is continuing to dominate the venture capital landscape, according to a new report from Crunchbase.
The report says a record $189 billion in global venture funding went to startups in February. Of that total, AI startups alone brought in $171 billion, accounting for roughly 90% of all venture capital raised during the month. It is an eye-catching figure that suggests the current surge may still be in its early stages.
That record level of spending was more than three times the global venture capital deployed in January, driven largely by enormous funding rounds concentrated in just three companies: OpenAI, Anthropic, and Waymo.
OpenAI led the group with its latest $110 billion raise. That round ranks among the largest private financings ever completed and valued the company at $730 billion. Rival AI firm Anthropic followed with a $30 billion Series G round at a $380 billion valuation. Waymo also posted a huge raise, bringing in $16 billion at a valuation of $126 billion.
Taken together, those three companies alone accounted for 83% of all venture dollars raised last month. It was also noted that the amount secured by OpenAI, Anthropic, and Waymo in February by itself represented roughly one-third of the total $425 billion in venture funding recorded so far in 2025.
