Artificial intelligence companies raised $211 billion in funding in 2025, an 85 percent increase from $114 billion in 2024. This amount accounted for half of all global venture capital, according to the 2025 AI Funding Report released jointly by Crunchbase and HumanX on January 31. The total marked a threefold rise from $65 billion in 2023.
The San Francisco Bay Area secured about 60 percent of global AI investment, totaling $126 billion. The region received 81 percent of its own startup capital from AI companies. Within the Bay Area, 92 companies completed funding rounds exceeding $100 million, but the area represented only 22 percent of the global deal count.
U.S.-based companies captured $166 billion, or 79 percent, of total AI funding. Mega-deals of $100 million or more made up 77 percent of all AI funding, amounting to $163 billion across 233 companies. This share rose from 67 percent in 2024.
Foundation-model companies, such as OpenAI and Anthropic, attracted 40 percent of investment, or $87 billion, a 180 percent increase from the previous year. OpenAI and Anthropic together raised $58.5 billion. The remaining 59 percent of funding went to other parts of the AI ecosystem, including robotics, healthcare, security, semiconductors, and cloud infrastructure.
“The AI winners of today are not necessarily the winners of tomorrow,” said Jager McConnell, CEO of Crunchbase. “Investors are making more cautious bets, no longer throwing money at anything labelled AI.”
The report predicts sustained activity into 2026. Of the 138 private AI companies presenting at the upcoming HumanX conference, 27 appear positioned as likely IPO candidates and 30 as probable acquisition targets.
