AI Capital Flow
Tracks how venture capital is distributed across AI companies.
Current Status
Last updated: Feb 20, 2026
• Top 3 companies received 96% of funding
What It Means
Capital Flow reveals whether investment is concentrating in a few leaders, diversifying across many players, or retreating from the market.
Concentrating flows often indicate winner-take-all dynamics, where capital chases proven leaders. This favors established players.
Diversifying flows suggest a broader opportunity set, potentially benefiting emerging companies and platforms.
Retreating flows signal caution—investors are pulling back, which may precede market corrections.
Which Stock Categories Tend to Benefit
Infrastructure
Often benefits from concentration—capital flows to proven compute providers.
Models & Platforms
Mixed—established platforms benefit from concentration; newcomers benefit from diversification.
Data & Analytics
Benefits from diversification as multiple data platforms gain traction.
Applications
Generally benefits from diversification enabling vertical innovation.
How We Compute It
- •Computed from funding concentration: percentage of 90-day funding going to top 3 companies.
- •Secondary factors: total funding trajectory and deal count trends.
- •Thresholds: Concentrating when top 3 share > 55%. Retreating when both funding and deal count decline materially.
Limitations
- •Concentration metric depends on data completeness.
- •Large one-off rounds can skew the signal.
- •Doesn't distinguish between healthy concentration and market distortion.
For informational purposes only. Not investment advice.