North American venture investment reached unprecedented levels in the first half of 2026, propelled by massive late-stage funding rounds for artificial intelligence companies. Total investment for the period hit a staggering $392 billion, far surpassing previous records, according to Crunchbase data. The second quarter alone saw $137.2 billion invested, making it the second-highest spending quarter on record.

This funding surge was concentrated in a few colossal deals, rather than a broad increase in the number of transactions. Late-stage funding accounted for the bulk of capital, with Anthropic securing a monumental $65 billion at a $965 billion valuation. Early-stage investment also saw a significant uptick, driven by AI startups like Prometheus, which raised $12 billion.

Exits mirrored the funding boom, featuring the largest IPO of all time by SpaceX, which raised $75 billion. SpaceX also completed a record-setting acquisition, buying AI coding tool Cursor for $60 billion. These developments signal a market heavily influenced by AI, with investors and companies betting on continued growth and massive valuations in the sector.