AI现状：2025年回顾 全球私募市场AI公司的交易、融资和退出数据及分析

State of AI Global | 2025 recap Global data and analysis on dealmaking, funding,and exits by private market ai companies Action is better. We track and compare the world’s companies. Our AIagents keep you a step ahead of competitors anddisruption. Trusted by the world's smartest companies:Every big tech company. Every top professional servicesfirm. 26 of the top 30 banks. All ten Fortune 10 companies.Put our AI agents to work today. ▮▮▮IIIIIIStart free trial “Steal” our data. Download the underlying data in this report. If you createany analysis or visualizations with this data, send it ourway and you could be featured in the CBI newsletter.@ us on social–LinkedIn X (Twitter)Instagram ▮▮▮▮▮IIIIIDownload the raw data TL;DRYour rundown onAIin 2025TL;DR $225.8B 1,550Deals in Q4’25,down 11% YoY 11.4%Share of AI dealscaptured by robotics 782M&A exits, over1.5x 2024 levels 75 AI funding—nearlydouble 2024 levels New AI unicorns—61% of total new Global AI funding reached arecord $225.8B in 2025,propelled by massive deals.Mega-rounds ($100M+deals) accounted for 79% oftotal funding, reflecting thehigh costs of AIdevelopment. Deal activity peaked in Q2'25at 1,937 deals beforedeclining in the latter half ofthe year. Meanwhile, fundingwas up 61% quarter-over-quarter in Q4’25. Private AI companiescontinue to be snatched upat record pace, with AIrepresenting 7.5% of ventureM&A exits in 2025 (up from4.9% in 2024) as tech giantsacquire their way into AI. AI startups now dominatenew unicorn formation, andthey’re reaching unicornstatus while alreadyoperating at commercialscale. Robotics hardware &software companiescaptured the the largestshare of AI deals amongmajor tech sectors. Both funding and deals to AIrobotics startups hit recordhighs in 2025, with advancesenabling robots to performcomplex tasks acrossdefense, humanoidapplications, andautonomous driving. 63% of new AI unicorns in2025 are already at aCommercial Maturity level 4(scaling stage) compared tojust 23% in 2024. Thisindicates a maturing AImarket. This divergence highlightshow top-heavy the landscapehas become: investors arefunneling capital into fewer,larger bets. Check sizes grewat the median across everystage in 2025 vs. 2024. Roughly 10% of AIacquisitions were related toAI agents and infrastructure,including Meta’s $3B Manusdeal and Workday’s $1.1Bpurchase of Sana Labs. LLM developers alonecaptured $93.1B (41% oftotal funding), with OpenAI,Anthropic, andxAIraising acombined $86.3B in 2025. See the data→ See the data→ See the data→ See the data→ See the data→ TL;DRState ofAI LLM developersdrive global AIfunding to recordhigh in 2025 TL;DRState ofAI While AI fundingexplodes, dealactivity softensin last 2 quartersof 2025 Quarterly equity funding and deal count TL;DRState ofAI Robotics leadsnext wave of AIinnovation Top 5 tech and industry sectors rankedby share of annual AI equity deals TL;DRState ofAI Acquisitions ofAI startups spike,led by US Annual M&A activity by target region TL;DRState ofAI New AI unicornsare borncommercial-ready Share of new unicorns($1B+ valuation) byCommercial Maturityscore State of AI 2025© 2026 CB Insights. CB Insights Commercial Maturity scores measure a company’s ability ContentsState of AI Canada105Asia113China121India125Singapore129Japan133Europe137UnitedKingdom145Germany149France153Israel157Netherlands161Sweden165LatAm169Oceania177 GlobalTrends InvestmentTrends12HeadcountTrends36Unicorns43ExitTrends49Investors56 GeographicTrends60 Global Trends Investment Trends State of AI|Global Trends|Investment Trends Annual equity funding & deals State of AI|Global Trends|Investment Trends Quarterly equity funding & deals State of AI|Global Trends|Investment Trends Percent of quarterly deals by global region State of AI|Global Trends|Investment Trends Percent of quarterly deals by investor group State of AI|Global Trends|Investment Trends Annual average & median deal size State of AI|Global Trends|Investment Trends Annual median deal size by global region State of AI|Global Trends|Investment Trends Annual median deal size by investor group State of AI|Global Trends|Investment Trends Quarterly funding & deals from mega-rounds (deals worth $100m+) State of AI|Global Trends|Investment Trends Quarterly mega-round deals by global region State of AI|Global Trends|Investment Trends Quarterly mega-rounds as percent of funding State of AI|Global Trends|Investment Trends Annual percent of deals by deal stage State of AI|Global Trends|Investment Trends Regional deal share by deal stage in Q4’25 Annual median funding by deal stage Headcount Trends State of AI|Global Trends|Headcount Trends Fastest-growing markets by YoY headcount change State of AI|Global Trends|Headcount Trends Annual share of M&A exits by number of employees State of AI|Global Trends|Headcount Trends Quarterly equity deal share by number of employees State of AI|Global Trends|Headcount Trends State