CB Insights reports that global AI equity funding fell to $103.3B in the third quarter of 2026, down 33% from the second quarter's $153.1B. The second quarter was among the strongest on record, driven largely by three mega-rounds for Anthropic totaling $65B.

Deal count dropped to 2,180, the lowest level in 18 months. The CB Insights chart tracks quarterly equity funding as bars and deal counts as a line from the first quarter of 2023 through the third quarter of 2026. Funding rose steadily from 2024 into 2026 while deal counts held near 3,000 to 3,800 per quarter until 2026 began, when the line turned sharply lower.

Concentration increased in the latest quarter. Mega-rounds captured 85% of all AI funding dollars, and 154 mega-rounds accounted for that share. U.S. companies received 61% of all funding.

New billion-dollar companies kept emerging despite the lower deal count. A total of 42 AI companies reached unicorn valuations during the quarter, the highest quarterly total in 18 months. Chinese AI chip companies made up three of the four largest AI IPO exits.

CB Insights notes that the figures cover equity deals only. The firm's State of AI Q3'26 report includes the full data behind each chart. The numbers show investors backing new AI unicorns while placing fewer bets overall, with capital flowing into a smaller set of larger rounds.

Source: CB Insights Research - https://www.cbinsights.com/research/report/ai-trends-q3-2026/