All the funding deals in the frontier AI labs market
Last updated: 13 July 2026
In our updated market reports, you will find everything you need
The frontier AI labs market is attracting record investment as companies build advanced AI models, computing platforms, safety tools, and world models.
We conducted deep research and collected 69 funding deals in the frontier AI labs market from Q1 2024 to Q2 2026.
We refresh this frontier AI labs market page very often to add newly announced funding rounds and update existing information.
Insights
- The 69 frontier AI labs funding deals raised almost $374 billion between Q1 2024 and Q2 2026. The rapid increase shows how quickly capital requirements are growing.
- Funding reached about $34.5 billion in 2024, $76.8 billion in 2025, and $262.7 billion during the first half of 2026.
- The first half of 2026 generated about 70% of all the capital in this study, even though the period represents only six months.
- OpenAI, Anthropic, and xAI raised a combined $237 billion in 2026. These three frontier AI labs captured about 90% of the year's recorded capital.
- Several frontier AI labs raised money more than once. Anthropic, OpenAI, xAI, Lambda, Moonshot AI, Decart, and Reflection AI all completed multiple rounds.
- The frontier AI labs market includes more than model developers. Investors also funded GPU clouds, inference platforms, model evaluation tools, and AI research infrastructure.
- World models became a major frontier AI labs investment theme. AMI Labs, Decart, Odyssey, General Intuition, and World Labs are developing AI systems that understand environments.
- AI infrastructure companies attracted several billion-dollar rounds. Lambda, CoreWeave, Cerebras Systems, Nscale, and Crusoe show the importance of computing capacity.
- Chinese frontier AI labs also secured large rounds. DeepSeek, Moonshot AI, Baichuan AI, MiniMax, and Zhipu AI together raised billions of dollars.
- The frontier AI labs market has a very uneven funding distribution. A small number of giant rounds account for most of the total capital raised.
Summary table of the funding deals for the frontier AI labs market since 2024
We define the frontier AI labs market as organizations that train and commercialize the most advanced general-purpose AI models.
It includes General AI Research Labs, Large Model Developers, AI Research Infrastructure, Model Training Operations, Safety Evaluation Teams, and Enterprise Model Platforms.
It excludes broader adjacent markets unless the product is built specifically for this use case.
We focused exclusively on pure players, defined as companies with at least 70-80% of their business directly tied to the frontier AI labs market.
Our analysis has been done at a global level with a minimum funding threshold of $300k.
If you want a longer-term view, we also have a study of how funding activity in the frontier AI labs market has changed over the years.
| Name | What they do | Amount in $ | Quarter | Source(s) |
|---|---|---|---|---|
| General Intuition | Trains AI systems to understand and act in virtual and physical environments. | $320M | Q2 2026 | General Intuition |
| Odyssey | Builds world models that simulate interactive physical environments. | $310M | Q2 2026 | TechCrunch |
| DeepSeek | Develops high-performance open and frontier language models. | $7.40B | Q2 2026 | WSJ |
| Prometheus | Builds AI engineering systems for product design and manufacturing. | $12.00B | Q2 2026 | TechCrunch |
| Gray Swan | Tests frontier AI models and agents for safety and security risks. | $40M | Q2 2026 | Gray Swan |
| Anthropic | Develops Claude models and reliable general-purpose AI systems. | $65.00B | Q2 2026 | Anthropic |
| Decart | Builds real-time world models and efficient generative AI systems. | $300M | Q2 2026 | TNW |
| Moonshot AI / Kimi | Develops open-weight language models and the Kimi AI assistant. | $2.00B | Q2 2026 | TechCrunch |
| Ineffable Intelligence | Builds AI systems that learn through experience and reinforcement learning. | $1.10B | Q2 2026 | Cooley |
| Advanced Machine Intelligence / AMI Labs | Develops world models that learn how physical environments work. | $1.03B | Q1 2026 | TechCrunch |
| OpenAI | Develops GPT models, ChatGPT, Codex, and enterprise AI products. | $122.00B | Q1 2026 | OpenAI |
| Moonshot AI / Kimi | Develops large language models and the Kimi AI assistant. | $700M | Q1 2026 | TechNode |
| Anthropic | Develops Claude models and reliable general-purpose AI systems. | $30.00B | Q1 2026 | Anthropic |
| Goodfire | Uses interpretability research to understand and design AI models. | $150M | Q1 2026 | PR Newswire |
| Ricursive Intelligence | Applies advanced AI systems to semiconductor design. | $300M | Q1 2026 | PR Newswire |
| xAI | Develops Grok models and large-scale AI computing infrastructure. | $20.00B | Q1 2026 | xAI |
| Lambda | Provides cloud infrastructure for AI factories and supercomputers. | $1.50B | Q4 2025 | Lambda |
| Sakana AI | Builds specialized and sovereign AI models for Japan. | $135M | Q4 2025 | TechCrunch |
| Fireworks AI | Provides infrastructure for training and deploying generative AI models. | $250M | Q4 2025 | Fireworks AI |
| Reflection AI | Builds open frontier AI models and autonomous AI systems. | $2.00B | Q4 2025 | TechCrunch |
| Cerebras Systems | Builds wafer-scale AI computers and cloud infrastructure. | $1.10B | Q3 2025 | Cerebras |
| Periodic Labs | Uses AI to develop hypotheses and run physical experiments. | $300M | Q3 2025 | Wilson Sonsini |
| Nscale | Provides computing, networking, storage, and software for AI workloads. | $1.10B | Q3 2025 | Nscale |
| Modular | Builds a unified computing platform for AI workloads. | $250M | Q3 2025 | Modular |
| Groq | Provides high-speed inference computing for advanced AI models. | $750M | Q3 2025 | Groq |
| Mistral AI | Develops frontier, open-weight, enterprise, and sovereign AI models. | $1.99B | Q3 2025 | Mistral AI |
| Baseten | Helps AI companies deploy and operate models at scale. | $150M | Q3 2025 | Baseten |
| Anthropic | Develops Claude models and reliable general-purpose AI systems. | $13.00B | Q3 2025 | Anthropic |
| Cohere | Builds secure enterprise and sovereign AI models. | $500M | Q3 2025 | Cohere |
| Decart | Builds efficient real-time generative video and AI systems. | $100M | Q3 2025 | Globes |
| Reka AI | Builds efficient multimodal models for video, images, text, and audio. | $110M | Q3 2025 | Reka |
| Thinking Machines Lab | Builds multimodal AI systems, products, and research tools. | $2.00B | Q3 2025 | WIRED |
| xAI | Develops Grok models and large-scale AI computing infrastructure. | $5.00B | Q3 2025 | MarketScreener |
| LMArena | Compares frontier AI models through human preference testing. | $100M | Q2 2025 | PR Newswire |
| Goodfire | Builds tools to understand and control AI model behavior. | $50M | Q2 2025 | Goodfire |
| Safe Superintelligence | Focuses exclusively on developing safe superintelligence. | $2.00B | Q2 2025 | TechCrunch |
| OpenAI | Develops GPT models, ChatGPT, and commercial AI products. | $40.00B | Q1 2025 | OpenAI |
| Reflection AI | Develops autonomous coding systems and open frontier models. | $130M | Q1 2025 | FinSMEs |
| Anthropic | Develops Claude models and reliable general-purpose AI systems. | $3.50B | Q1 2025 | Anthropic |
| Together AI | Provides cloud services for training and running AI models. | $305M | Q1 2025 | Together AI |
| Lambda | Provides GPU cloud infrastructure for AI training and inference. | $480M | Q1 2025 | Lambda |
| Liquid AI | Builds efficient general-purpose Liquid Foundation Models. | $250M | Q4 2024 | Liquid AI |
| Crusoe | Provides AI cloud services and data-center infrastructure. | $600M | Q4 2024 | Crusoe |
| Zhipu AI | Develops Chinese large language models in the GLM family. | $412M | Q4 2024 | Tech in Asia |
| Decart | Builds efficient model optimization and real-time generative AI systems. | $32M | Q4 2024 | Newswire |
| Decart | Builds efficient model optimization and real-time generative AI systems. | $21M | Q4 2024 | Newswire |
| xAI | Develops Grok models and frontier general-purpose AI systems. | $6.00B | Q4 2024 | Series C |
| Anthropic | Develops Claude models and reliable general-purpose AI systems. | $4.00B | Q4 2024 | Anthropic |
| OpenAI | Develops frontier AI models and commercial AI products. | $6.60B | Q4 2024 | OpenAI |
| poolside | Builds AI models and products for software development. | $500M | Q4 2024 | PRWeb |
| World Labs | Builds spatial intelligence models for understanding 3D environments. | $230M | Q3 2024 | TechCrunch |
| Safe Superintelligence | Focuses exclusively on developing safe superintelligence. | $1.00B | Q3 2024 | Safe Superintelligence |
| Sakana AI | Develops nature-inspired foundation models and AI research systems. | $100M | Q3 2024 | Sakana AI |
| Black Forest Labs | Develops visual generative AI models, including FLUX. | $31M | Q3 2024 | Black Forest Labs |
| Baichuan AI | Develops large generative AI models and applications in China. | $691M | Q3 2024 | SiliconANGLE |
| Cohere | Builds enterprise language models and secure AI platform services. | $500M | Q3 2024 | TechCrunch |
| Fireworks AI | Provides AI inference, fine-tuning, and deployment infrastructure. | $52M | Q3 2024 | Fireworks AI |
| Mistral AI | Develops open and commercial frontier language models. | $503M | Q2 2024 | TechCrunch |
| Pika | Builds generative video models and AI creation tools. | $80M | Q2 2024 | Pika |
| H Company | Builds action models and agentic AI systems. | $220M | Q2 2024 | Elaia |
| CoreWeave | Provides specialized cloud infrastructure for AI training and inference. | $1.10B | Q2 2024 | CoreWeave |
| xAI | Develops Grok models and frontier general-purpose AI systems. | $6.00B | Q2 2024 | Series B |
| Anthropic | Develops Claude models and reliable general-purpose AI systems. | $2.75B | Q1 2024 | Amazon |
| Anthropic | Develops Claude models and reliable general-purpose AI systems. | $750M | Q1 2024 | MarketScreener |
| Together AI | Provides cloud infrastructure for open and custom AI models. | $106M | Q1 2024 | Together AI |
| MiniMax | Develops multimodal, language, video, and AI companion models. | $600M | Q1 2024 | CDO Magazine |
| Moonshot AI | Develops large language models and the Kimi AI assistant. | $1.00B | Q1 2024 | Yahoo Finance |
| Lambda | Provides GPU cloud infrastructure for AI training and inference. | $320M | Q1 2024 | Lambda |
| Luma AI | Builds generative models for video, 3D, and physical intelligence. | $43M | Q1 2024 | TechCrunch |
Related blog posts
- The most highly valued startups in the frontier AI labs market
- How healthy is startup funding in the frontier AI labs market right now?
- The startups that have raised the most funding in the frontier AI labs market
- The main fundraising trends in the frontier AI labs market
