AI deals lift US venture capital funding to highest level in two years, data shows

U.S. venture capital funding surged to $55.6 billion in the second quarter, marking the highest quarterly total in two years, according to PitchBook data published on Wednesday.

The latest figure shows a 47% jump from the $37.8 billion U.S. startups raised in the first quarter, largely driven by significant investments in artificial-intelligence companies, including $6 billion raised by Elon Musk’s xAI and $1.1 billion raised by CoreWeave.