Q1 2026 AI funding hits $300B record; OpenAI, xAI, Anthropic lead

The first quarter of 2026 marked an unprecedented surge in AI venture capital, with $300B invested globally across the sector — a 150% increase both quarter-over-quarter and year-over-year. OpenAI led the charge, closing a final $122B round on March 31 at an $852B post-money valuation, making it the most valuable private company in history. The company now generates $2B in monthly revenue, serves 900M+ weekly active users, and is preparing for a Q4 2026 IPO potentially near $1 trillion. Notably, $3B of the round came from individual retail investors via bank channels.

xAI and SpaceX completed their merger and filed a confidential IPO on April 1 targeting a $1.75T valuation — the largest IPO in history if realized. The combined entity plans a $75B raise with up to 30% of shares allocated to retail investors. However, all 11 original xAI co-founders have departed, and Musk acknowledged the need for a rebuild. Anthropic secured its $30B Series G at $380B valuation, with annualized revenue now estimated at $30B, driven by Claude Opus 4.6 and Claude Code ($2.5B ARR). The company refused DoD demands to remove safety restrictions, leading to a federal injunction against retaliation.