A new Crunchbase report reveals that artificial intelligence continues to dominate the venture capital landscape. In February, a record $189 billion of global venture capital flowed to startups. AI startups alone raised $171 billion, accounting for a staggering 90 percent of all capital raised that month. This remarkable figure feels like just the beginning.
This record spending was more than three times the global venture capital investment from January. The month was dominated by mammoth funding rounds from just three companies: OpenAI, Anthropic, and Waymo.
OpenAI’s latest $110 billion raise led the pack, marking one of the largest private funding rounds ever. This round valued the company at $730 billion. Its rival, Anthropic, secured a $30 billion Series G at a $380 billion valuation. Lastly, Waymo raised $16 billion, achieving a valuation of $126 billion.
Together, these three companies were responsible for 83 percent of all venture dollars raised in February. The amount raised by just OpenAI, Anthropic, and Waymo last month equaled one-third of the total $425 billion in venture spending for the entire year of 2025, according to Crunchbase.