Europe's Q3 venture funding hits $25B, a four-year high, with AI taking 75%
AI summary
European startups raised $25B in Q3, up 77% year over year and the region's strongest venture quarter in four years, accounting for 16% of global VC, according to Crunchbase data. AI companies took 75% of that, or $18.8B, a record share, with four rounds — Mistral's €3B Series D (about $3.5B), Nscale's $3.36B convertible note, Helsing's $1.8B and Quantum Systems' $1.2B — making up roughly 40% of the total. North America fell 35% quarter over quarter to $92B, largely because there were no new megarounds for OpenAI or Anthropic in the period.
In-depth insight
Capital is concentrating into a small set of European AI and compute companies, showing a sizeable AI funding market is forming outside the US.