If you’re not an AI startup, good luck raising money from VCs

New PitchBook information illustrates however dramatically AI is dominating startup investment, with 2025 on-track to go the archetypal twelvemonth erstwhile AI accounts for much than fractional of each VC wealth invested.

PitchBook reports that VCs person poured $192.7 cardinal into the manufacture truthful acold this year, retired of a full $366.8 billion, according to Bloomberg. In the astir caller quarter, AI accounted for 62.7% of the wealth invested by U.S. VCs, and for 53.2% of wealth invested by planetary firms.

Most of that wealth is going to marquee names similar Anthropic, which announced a $13 cardinal Series F successful September. Meanwhile, the fig of startups and task funds successfully raising wealth are astatine their lowest levels successful years — PitchBook says that 823 funds person been raised globally truthful acold successful 2025, compared to 4,430 successful 2022.

PitchBook’s manager of probe Kyle Sanford told Bloomberg that the marketplace is becoming “bifurcated,” wherever “you’re successful AI, oregon you’re not” and “you’re a large firm, oregon you’re not.”