33 US AI startups raised $100M+ rounds in 2025. Key insights for founders:

Biggest rounds:
• OpenAI: $40B at $300B valuation
• Anthropic: $3.5B at $61.5B valuation
• EliseAI: $250M Series E (healthcare automation)
• Thinking Machines Lab: $2B seed at $12B valuation

Patterns that matter:
• Healthcare AI dominates funding (Abridge, Ambience, OpenEvidence all $200M+)
• Infrastructure plays command massive rounds (Lambda $480M, Together AI $305M)
• Vertical-specific AI gets premium valuations
• Series A rounds now hitting $100M+

Takeaway: Generic AI plays are dead. The market rewards specific, measurable business outcomes in defined verticals. Focus on demonstrable ROI over promises.

Source: TechCrunch analysis

Brewed by Startup Beaker.