At least ten U.S. artificial intelligence companies raised funding rounds exceeding $1 billion in 2025, according to industry tracking of the largest deals.
OpenAI — $40 billion
OpenAI led the pack with a $40 billion funding round in March that valued the company at $300 billion. The round was led by SoftBank with participation from Microsoft, Thrive Capital, and Coatue.
Anthropic — $16.5 billion
Anthropic raised two separate billion-dollar rounds during the year. The company secured $3.5 billion in March at a $61.5 billion valuation led by Lightspeed Venture Partners, then followed with a $13 billion round in September that valued it at $183 billion. The September round was led by ICONIQ and co-led by Fidelity and Lightspeed.
Anysphere — $3.2 billion
Anysphere, maker of the AI coding tool Cursor, raised $900 million in June at a $9.9 billion valuation led by Thrive Capital, then added $2.3 billion in November that valued the company at $29.3 billion. The November round was co-led by Accel and Coatue.
Reflection AI — $2.1 billion
Reflection AI, which builds autonomous systems, raised $130 million in March and $2 billion in October. The October round valued the company at $8 billion and was led by Nvidia with an $800 million investment.
Thinking Machines Lab — $2 billion
AI research lab Thinking Machines Lab confirmed a $2 billion seed round in July led by Andreessen Horowitz that valued the company at $12 billion. Nvidia, Accel, ServiceNow, Cisco, AMD, and Jane Street also participated.
Cerebras Systems — $1.1 billion
AI infrastructure company Cerebras Systems raised $1.1 billion in September at an $8.1 billion valuation. The round was co-led by Fidelity Management & Research Company and Atreides Management.
In total, 49 U.S. AI companies raised rounds of $100 million or more in 2025, matching the pace set in 2024. However, more companies raised multiple mega-rounds this year compared to last, indicating sustained investor appetite for artificial intelligence ventures.
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