AI Took Half of All Venture Dollars in the First Half of 2026
In the first half of 2026, AI companies raised 52.8% of all venture dollars, and they accounted for about a quarter of all funding rounds. Two years earlier, in the first half of 2024, those figures were 22.2% and 18%. We tracked about 58,000 funding rounds in the VCbacked database from January 2023 to September 2026 to see how fast that shift happened and where it's concentrated.
Key findings
- AI companies took 52.8% of venture dollars in H1 2026, up from 22.2% in H1 2024.
- AI's share of rounds rose from 13.8% in Q1 2023 to 26.2% in Q1 2026, and about 35% in Q3 2026 based on early data.
- Half of pre-seed rounds in H1 2026 went to AI companies, up from a third.
- AI's share of Series A rounds nearly doubled in two years, from 18.1% to 35.2%.
- The median AI seed round was $4.3M, against $2.5M for everyone else.
The dollars moved first
Venture rounds only (pre-seed to late-stage series, convertible notes and corporate rounds). Excludes post-IPO, debt, private equity and grants. Source: VCbacked.
For three half-years AI's share of dollars sat in the low 20s. Then it jumped: $32.2B of $92.3B in the second half of 2025, and $79.3B of $150.1B in the first half of 2026. Very large rounds drive much of that, including xAI's $20B Series E in January 2026. But the shift is broad, as the round counts below show.
A quarter of all rounds, and rising
All funding rounds. Q3 2026 is excluded while rounds are still being added. Early data puts it at about 35%.
AI's share of rounds has nearly doubled in three years, rising almost every quarter. Early Q3 2026 data suggests another step up, to about 35%. We'll update this post when that quarter's data is complete.
Early-stage investors have gone furthest
| Stage | H1 2024 | H1 2026 | Change |
|---|---|---|---|
| Pre-Seed | 32.9% | 49.3% | +16.4 pts |
| Seed | 20.8% | 33.6% | +12.8 pts |
| Series A | 18.1% | 35.2% | +17.1 pts |
| Series B | 19.9% | 37.2% | +17.3 pts |
| Series C | 17.6% | 24.4% | +6.8 pts |
Half of all pre-seed rounds now go to AI companies. Series A and B shares nearly doubled, partly as the AI-heavy seed classes of 2024 and 2025 reach their next round. Series C has moved least, likely because most companies raising a C today were founded before the current wave.
AI rounds are bigger at every stage
| Stage | Median AI round | Median non-AI round | AI premium |
|---|---|---|---|
| Seed | $4.3M | $2.5M | +72% |
| Series A | $20.0M | $13.5M | +48% |
| Series B | $46.0M | $32.8M | +40% |
The premium is largest at seed. Compute and specialist hiring likely make AI companies more expensive to build, and more investors are competing for the same deals.
By country
Germany is level with the US at about 30%. Canada stands out at the other end, at 10.5%.
Methodology
A company counts as AI if its industry tags include artificial intelligence, machine learning or generative AI. Counts and dollars use each company's latest funding round in the VCbacked database, dated by when the round was announced. A company that raised twice in the period is counted at its most recent round, which slightly understates older quarters. Dollar shares include venture rounds only and exclude post-IPO raises, debt, private equity and grants, so one large public-company raise doesn't swamp the figures. Data as of November 3, 2026.
Questions
What share of venture funding goes to AI?
In the first half of 2026, AI companies raised 52.8% of venture dollars ($79.3B of $150.1B) and accounted for about a quarter of funding rounds, according to VCbacked data.
How fast is AI's share of startup funding growing?
AI's share of rounds rose from 13.8% in Q1 2023 to 26.2% in Q1 2026. Its share of venture dollars more than doubled between H1 2024 and H1 2026.
Are AI startup rounds larger?
Yes. In H1 2026 the median AI seed round was $4.3M against $2.5M for non-AI companies, and the median AI Series A was $20M against $13.5M.
See the AI companies raising now: AI startups on VCbacked.
Using this data? You are welcome to quote or chart these figures. Please credit VCbacked and link to AI Took Half of All Venture Dollars in the First Half of 2026.
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