VC concentration hits extreme: 75% of capital flows to 5 AI firms

VC concentration hits extreme: 75% of capital flows to 5 AI firms

Yesterday
SaaStr ARMARM Gtm_strategy

The Gist

  • 73.1% of Q1 2026 VC raised by just five funds
  • $195.6B invested in OpenAI, Anthropic, xAI, Waymo, Databricks alone
  • Deal count falls 15% QoQ as mega-rounds dominate

RevBots.ai View:

The funding gap between ARM-native companies and legacy SaaS will accelerate consolidation in 2026.

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