The striking part is not the total. It is the concentration. The money tripled while the number of deals collapsed: just 34 deals so far in 2026, against 99 across all of 2025 and 127 in 2024. Investors have stopped spreading small bets across dozens of startups and started pouring billions into the few players they believe will own the market.
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world models AI systems that learn from site and sound to understand and simulate how the real world works over time, predicting what happens next and letting us interact with those simulated futures.
The Business of Tech