A Buffer Against Shocks Amid Concerns Over AI Spending
Investment Polarization Intensifies, With Top Performers Attracting Most Capital
According to a report by the Financial Times (FT) on December 28 (local time), citing data from PitchBook, Silicon Valley startups focused on artificial intelligence (AI) raised approximately $150 billion (about 215.205 trillion won) in funding this year. Investors have flocked to promising AI startups such as OpenAI and Anthropic with large sums of money.
This is the largest amount ever, far surpassing the previous record of $92 billion set in 2021.
Venture capitalists and industry experts predict that this capital will not only drive corporate growth but also serve as a buffer to protect founders in the event of an investment downturn, especially as the market begins to worry about the massive spending on AI infrastructure.
Lucas Swisher, a partner at Coatue who has invested in OpenAI, Databricks, and SpaceX, said, "As the saying goes, 'make hay while the sun is shining,' now is the time to seize the opportunity. Unexpected things could happen in 2026. Companies should strengthen their financial structure while the market presents opportunities."
This year’s surge in startup funding was fueled by unprecedented large-scale deals. These include OpenAI’s $41 billion fundraising led by Japan’s SoftBank, Anthropic’s $13 billion investment round in September, and Meta’s investment of more than $14 billion in the data labeling startup ScaleAI. In addition, coding agent group Anysphere, search company Perplexity, and AI research startup Thinking Machines Lab all secured multiple rounds of venture capital (VC) funding this year.
However, even amid this fundraising boom, a widening gap between the haves and have-nots is emerging. According to Carta, a software company tracking private market trends, startups typically raise new capital every two to three years on average. Recently, however, while funding for smaller startups has dried up, high-performing AI startups have been able to attract new investors in just a matter of months.
Ryan Biggs, co-head of venture investing at Franklin Templeton, said, "Investors are concentrating on later-stage deals where there is greater certainty about who the winners will be. There are about a dozen companies that everyone wants to invest in, and for the rest, the environment is extremely challenging."
With the surge in AI startup investments this year, many VCs have depleted their funds faster than expected. According to public disclosures and sources, major VCs such as Thrive Capital, Andreessen Horowitz, and Tiger Global have begun raising new funds. Lightspeed Venture Partners and Dragoneer also raised new multi-billion dollar funds in December, which FT explained is a sign that leading startups could secure even more VC funding in 2026.
Investors say that founders of large startups are further strengthening their financial positions in anticipation of acquisition opportunities. FT noted that this is a move to prepare for a scenario in which investment sentiment deteriorates next year and smaller competitors struggle to raise new capital.
Jeremy Kranz, founder of Sentinel Global and former executive at Singapore’s sovereign wealth fund, said, "It’s time to fasten your seatbelts. If even a small instability arises in the public markets, there will be acquisition battles every week."
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