Investment in global startups reached $297 billion in Q1 2026, setting a new record, as per the latest data from Crunchbase. This marks a staggering 2.5x growth from the $118 billion secured in the preceding quarter. This quarterly total exceeds the entire annual global VC investments recorded before 2019.

This extraordinary surge was driven by just four colossal deals, each establishing its own record.

Last month, OpenAI revealed its valuation at $852 billion following a $122 billion funding round, breaking the previous record for the largest funding round ever, which was also set by OpenAI when it raised $40 billion last year.

The quarter also witnessed Anthropic, its primary competitor, garnering $30 billion at a valuation of $380 billion. This funding round became the third-largest VC round on record. The other two significant deals of the quarter included a $20 billion fundraising by xAI and Waymo securing $16 billion.

These four rounds together amassed $188 billion, comprising over 63% of the total funding for the quarter.

Although it may seem that fundraising is following a more conventional path without these deals, anecdotal evidence suggests otherwise. Investors and founders indicate, for instance, that seed-phase AI startups are attracting larger investments and achieving higher valuations at earlier stages than ever before.