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27m ago

AI Draws Nearly Half of Q3 Venture Funding as Megarounds Concentrate Capital

Fresh warnings from top tech and finance figures question the durability of an AI boom driven by a few giant checks.

AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
The Stargate AI data center in Abilene, Texas
OpenAI CEO Sam Altman speaking at the company's "Dev Day" on Oct. 6. Among the company's big announcements at the event was that they are integrating apps directly into ChatGPT.
An artificial intelligence data center complex being built for OpenAI is shown in Abilene, Texas, on Monday, Sept. 22, 2025.

Overview

  • Crunched data show global venture funding reached $97 billion in Q3 2025, with roughly 46% going to AI startups; the largest rounds were Anthropic’s $13 billion, xAI’s $5.3 billion, and Mistral AI’s $2 billion.
  • North American startups raised $63.1 billion, and about 57% of that went to AI, with Anthropic’s financing alone representing more than a fifth of the region’s total.
  • OpenAI was reportedly valued at $500 billion, becoming the most valuable private company in the world.
  • Industry leaders including Sam Altman, Jeff Bezos, David Solomon, Ken Griffin, and Orlando Bravo cautioned that AI valuations look overheated and that broad payoffs may take much longer than investors expect.
  • OpenAI’s new AMD pact calls for M4150 GPUs starting in the second half of 2026 and a commitment to six gigawatts of chips, with warrants that could give OpenAI up to a 10% stake in AMD, prompting fresh scrutiny of the sector’s mounting costs and financing.