INSIGHTS

AI Owns the Dollars. The Opportunity Set Is Broader.

AI companies captured 86% of first-half 2026 venture deal value while representing 43.2% of deal count. A 42.8-point concentration gap that separates category momentum from deal-level selectivity.

By Connetic TeamPublished July 29, 2026

Data Corner

The headline number is striking: 86% of first-half venture value went to AI. But AI represented 43.2% of deal count. The gap shows how a relatively small group of enormous financings can dominate the capital picture while company formation and investment activity remain much broader.

Market measure	AI share
Share of deal value	86.0%
Share of deal count	43.2%

AI share of value · AI share of count

Large financings for companies such as OpenAI, Anthropic, and xAI helped drive the value concentration. For investors, the more useful question is not simply whether AI will matter. It is where intelligence is becoming a durable product, workflow, or piece of infrastructure— and where the market may still be underestimating that transition.

Source: PitchBook-NVCA Venture Monitor, Q2 2026, pages 14–15; data as of June 30, 2026. Visualization is an original Connetic presentation of the reported figures. PitchBook and NVCA data are provided for informational purposes and do not constitute investment advice.

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