AI startups pulled in $202 billion in 2025—literally half of all global venture funding—and the SEC categorizes it as "Other Technology" because there's no official AI classification. Two companies, OpenAI and Anthropic, now represent 14% of the entire global venture market, which is nearly double the concentration we saw at the peak of the 2021 bubble. While most firms wait for official data that can't even distinguish AI infrastructure from e-commerce software, the ones winning are building proprietary tracking systems and seeing deals three to six months before they hit mainstream databases.

Less than 10% of deals captured 69% of all venture capital in Q4—483 mega-deals ate 1.5 trillion dollars while the middle market got absolutely crushed. The average deal size dropped 36 million dollars even as deal count went up, which means investors are doing more deals but writing way smaller checks everywhere except the top. If your portfolio company needs a Series B or C in that 100 to 250 million range, that capital just got brutally harder to access because the market is splitting into a barbell: mega-rounds at the top, seed rounds at the bottom, and a shrinking squeeze zone in the middle where companies are starting to suffocate.

Boston just deployed 137.8 billion in venture capital last quarter while San Francisco managed 57.3 billion, and somehow most VCs are still pretending the Bay Area runs the game. East Coast deals are now averaging 486 million versus West Coast's 253 million, with Boston's deal count surging 44.5 percent while SF crawled at 22.9 percent. The entire venture capital center of gravity has mathematically shifted east while everyone's still optimizing their portfolios for a San Francisco dominance that died three years ago.