The biggest AI check of the week was built for the battlefield. AI raised $7.28B across 74 companies, about 43% of all venture dollars. The largest round wasn't a model lab or a chatbot: it was Helsing at $1.8B, a European defense-AI company, the biggest defense-tech round in European history. Right behind it, Fireworks AI raised $1.505B and crossed $1 billion in revenue. Those two checks alone were 45% of the AI week. One more surprise: Europe out-raised China, $2.65B to $1.19B, on the back of Helsing and Daniel Ek's Neko Health.
$7.28B
AI funding this week
$1.8B
biggest round (Helsing)
$400.0B
cumulative · 33 weeks
Verified live · grok + web
All top rounds confirmed as genuinely AI: Helsing ($1.8B, defense-AI software, kept because it is a real AI company), Fireworks AI ($1.505B, $17.5B valuation, $1B ARR, Nvidia-backed), Neko Health ($700M, AI health scanning), ModelBest ($590.9M), Chai Discovery ($400M), and Walden Robotics ($300M seed). Left OUT of the AI bucket on purpose after verification: Kraken Technology ($174.5M, maritime-defense hardware, not primarily AI), BRINC Drones ($125M, drone hardware), Mojie ($88.5M, AR optics), plus three smaller name-only matches. Counting them would inflate the week by ~$0.43B.
Analysis 1 · Overview
Of 220 funded companies this week, 74 (34%) were AI, taking $7.28B of the $16.76B total raised (43%). Two rounds define it: Helsing's $1.8B and Fireworks' $1.505B together are 45% of the entire AI week. Strip both and the rest of the market raised $3.98B — a healthy but ordinary week under two very loud checks.
Analysis 2 · Regional (AI dollars only)
- United States — $3.17B (43%) · 39 cos. The deepest market by both dollars and deal count, led by Fireworks, Chai Discovery, and Walden.
- Europe — $2.65B (36%) · 11 cos. Punched above its weight: Helsing's $1.8B plus Neko's $700M pushed Europe ahead of China this week.
- China — $1.19B (16%) · 11 cos. Steady, led by ModelBest's $590.9M model round and a wave of robotics.
- Rest of World — $130M (2%) · 3 cos (incl. Canada).
- Asia-Pacific (ex-China) — $80M (1%) · 7 cos.
- Middle East & Africa — $60M (1%) · 3 cos.
Analysis 3 · Top 5 AI rounds
1. Helsing — $1.8B
Series E · Munich, Germany · $18B valuation · defense AI
Builds the AI software behind military drones and battlefield decisions. Europe's largest defense-tech round ever, and the single biggest AI check of the week.
⚑ Kept in the AI total because it is a genuine AI software company, not a hardware maker like the drone companies we cut.2. Fireworks AI — $1.505B
Series D · Redwood City · $17.5B valuation · Nvidia-backed · AI infrastructure
A platform to build, tune, and run AI apps on open-source models. Just crossed $1 billion in annual revenue.
⚑ Most show-friendly — the invisible layer everything runs on, now a billion-dollar business.3. Neko Health — $700M
Series C · Stockholm, Sweden · AI health
Spotify co-founder Daniel Ek's full-body scanning company. AI reads thousands of data points per scan to catch disease early.
4. ModelBest — $590.9M
Series C · Beijing, China · foundation models
Chinese lab building efficient large language models that run on smaller devices instead of giant data centers.
5. Chai Discovery — $400M
Series C · San Francisco · AI for science
Uses AI to design proteins and molecules for new drugs. Part of the AI-for-science wave.
Also notable: Walden Robotics $300M SEED (physical AI, $1.1B valuation out of stealth), Zhuji Dynamics $200M (general-purpose robots), AIsphere $139M (generative video).
Analysis 4 · Trends
- Defense AI went vertical. Helsing's $1.8B is Europe's largest defense round ever. AI-for-defense is now a mega-scale fundable category.
- The infrastructure layer keeps printing. Fireworks at $1B ARR, plus a run of AI-chip startups (Listenai, TYLsemi, Quadric).
- Europe beat China this week. Helsing and Neko pushed Europe to $2.65B, ahead of China's $1.19B — a rare flip.
- "Seed" isn't small anymore. Walden's $300M seed at a $1.1B valuation, straight out of stealth.
- Physical AI is loud. Walden, Zhuji, and a wall of robotics money behind the headlines.