Massive funding rounds for OpenAI, Anthropic, and Waymo accounted for the vast majority of global startup investment last month.
AI Dominates Venture Capital Like Never Before
Global venture capital surged to a record $189 billion in February, according to a new Crunchbase report.
But the real headline isn’t just the size of the funding. It’s where the money went.
A staggering $171 billion — roughly 90% of the total — flowed into AI startups.
- Global VC investment (February): $189B
- AI startup funding: $171B (90%)
- Increase vs. January: More than 3× higher
The surge underscores how rapidly artificial intelligence has become the center of venture capital strategy.
Three Companies Took Nearly All the Capital
Despite the huge total, most of the money didn’t spread across the startup ecosystem.
Instead, three companies absorbed the majority of the funding.
Those companies were:
- OpenAI
- Anthropic
- Waymo
Together, the trio accounted for 83% of all venture capital invested globally in February.
In other words, a handful of mega-rounds reshaped the entire month’s funding landscape.
OpenAI’s Record-Breaking $110 Billion Raise
Leading the surge was OpenAI, which secured a staggering $110 billion funding round.
The deal ranks among the largest private capital raises ever recorded.
Key details:
- Funding raised: $110B
- New valuation: $730B
The scale of the round reflects investor confidence in generative AI as a foundational technology — similar to the early days of the internet or mobile computing.
Anthropic and Waymo Follow With Mega-Rounds
OpenAI wasn’t the only company pulling in massive checks.
Two other AI-focused firms closed enormous funding rounds in February.
Anthropic
- Funding: $30B Series G
- Valuation: $380B
Waymo
- Funding: $16B
- Valuation: $126B
While OpenAI and Anthropic represent the large language model race, Waymo’s round signals continued belief in AI-powered autonomous driving.
Together, these three deals dominated the global venture market.
One Month Equals a Third of 2025’s VC Funding
The scale becomes even clearer when viewed in the context of annual venture funding.
According to Crunchbase:
- Total global VC funding in 2025: $425B
- Funding raised by the three companies in February: $156B
That means just three startups raised roughly one-third of all venture capital deployed in 2025.
For perspective, many entire startup sectors don’t attract that much investment in a full year.
The New Era of Mega-Rounds
The numbers reveal a structural shift in venture capital.
Instead of thousands of smaller startup bets, investors are increasingly pouring massive sums into a few dominant AI platforms.
This strategy reflects the belief that AI infrastructure companies could become the next trillion-dollar tech giants.
But it also raises a question hanging over the startup ecosystem:
If most venture dollars flow to a few AI titans, what happens to the rest of the startup world?
TL;DR
Global venture capital hit $189B in February, with 90% going to AI startups. Just three companies — OpenAI, Anthropic, and Waymo — captured 83% of the funding, including OpenAI’s massive $110B round, highlighting how concentrated AI investment has become.
AI summary
- Global VC funding reached $189B in February.
- AI startups captured $171B (90%) of the total.
- OpenAI, Anthropic, Waymo raised most of the money.
- OpenAI secured a $110B round at $730B valuation.
- The three companies raised $156B combined.
