AI continues to dominate the venture world, per a new Crunchbase report.

A record $189 billion of global venture capital flowed to startups in February, according to the report. AI startups overall raised $171 billion, or 90% of the capital raised last month. It’s a stunning number that feels like only the start. 

That record spending was more than three times the global VC spend in January, and was dominated by mammoth funding rounds from just three companies: OpenAI, Anthropic, and Waymo.

OpenAI’s latest $110 billion raise led the pack. It was one of the largest private rounds ever raised and valued the company at $730 billion. Its rival Anthropic also nabbed a $30 billion Series G at a $380 billion valuation. Lastly, Weymo raised $16 billion at a valuation of $126 billion. These three companies alone were responsible for 83% of the venture dollars raised last month.

The amount raised by just OpenAI, Anthropic, and Waymo last month was one-third of the total $425 billion venture spend in 2025, according to Crunchbase.