欧洲初创企业在第三季度筹集了250亿美元，创下了四年多来风险投资额最高的一个季度。Crunchbase的数据显示，在北美，初创企业融资额环比下降了35%，至920亿美元。
European startups raised $25bn in the third quarter, their strongest quarter for venture funding in four years. In North America, startup funding fell 35% from the previous quarter to $92bn, Crunchbase data shows.
Gené Teare周四在Crunchbase新闻网报道称，欧洲的总融资额比2025年第三季度的140亿美元增长了77%。其中，人工智能公司拿走了75%的资金，即188亿美元，创下了历史最高占比。
Europe’s total was up 77% on the $14bn raised in the third quarter of 2025, Gené Teare reported for Crunchbase News on Thursday. AI companies took 75% of it, or $18.8bn, the highest share on record.
四轮融资占去了欧洲资金的四成 在本季度，四家欧洲公司各自筹集了超过10亿美元的资金，约占该地区总额的40%。Mistral公司30亿欧元的D轮融资（在Crunchbase的数据中约为35亿美元）成为欧洲公司有史以来最大的一笔风险投资。
Four rounds took 40% of Europe’s money Four European companies raised more than $1bn each in the quarter, close to 40% of the region’s total. Mistral’s €3bn Series D, about $3.5bn in Crunchbase’s figures, was the largest venture round ever for a European company.
数据中心提供商Nscale筹集了33.6亿美元的可转换债券。国防初创公司Helsing和Quantum Systems分别筹集了18亿美元和12亿美元。
The data centre provider Nscale raised a $3.36bn convertible note. The defence startups Helsing and Quantum Systems raised $1.8bn and $1.2bn.
英国以75亿美元领跑。德国筹集了5亿美元，法国筹集了48亿美元，这是它们自2021年和2022年初以来表现最好的一个季度。瑞典紧随其后，筹集了15亿美元，超过了荷兰的14亿美元和西班牙的12亿美元。
The UK led with $7.5bn. Germany raised $5bn and France $4.8bn, their best quarters since 2021 and early 2022. Sweden followed with $1.5bn, ahead of the Netherlands on $1.4bn and Spain on $1.2bn.
在没有OpenAI和Anthropic的情况下北美出现下滑 Joanna Glasner周三在Crunchbase新闻网上撰文称，北美的下滑主要源于OpenAI和Anthropic缺乏新的超大额融资轮次。OpenAI在第一季度筹集了1100亿美元，Anthropic在第二季度筹集了650亿美元。不过，第三季度的总融资额仍比去年同期高出50%。
North America fell without OpenAI and Anthropic North America’s drop came mostly from the lack of new megarounds for OpenAI and Anthropic, Joanna Glasner wrote for Crunchbase News on Wednesday. OpenAI raised $110bn in the first quarter and Anthropic $65bn in the second. The third-quarter total was still 50% higher than a year earlier.
规模最大的几笔融资流向了Databricks（50亿美元）、Crusoe（39亿美元）、The Boring Company（30亿美元）和Cognition（20亿美元）。人工智能公司获得了610亿美元的资金，约占总融资额的三分之二。
The largest rounds went to Databricks ($5bn), Crusoe ($3.9bn), The Boring Company ($3bn) and Cognition ($2bn). AI companies took $61bn, about two thirds of all funding.
有11家北美初创企业被收购，公开报道的交易金额达到10亿美元或以上。其中最大的一笔是英伟达以129.3亿美元收购Hugging Face。其次是AMD以约82亿美元估值收购World Labs，以及Stripe以据称约75亿美元的价值收购OpenRouter。另有17家获得风险投资支持的公司上市，总共筹集了略低于40亿美元的资金。
There were 11 acquisitions of North American startups at a reported $1bn or more. The largest was Nvidia’s purchase of Hugging Face, for $12.93bn. Next came AMD’s deal for World Labs, valued at about $8.2bn, and Stripe’s purchase of OpenRouter, reportedly worth about $7.5bn. Seventeen venture-backed companies went public, raising just under $4bn between them.
人工智能初创公司正在收购其他人工智能初创公司。据 Mary Ann Azevedo 周二为 Crunchbase News 报道，截至 9 月 29 日，获得风险投资支持的人工智能公司已收购 195 家人工智能初创公司，比 2025 年全年的总数高出 14%，而买家数量仅增长了 2%。
AI startups are buying AI startups Venture-backed AI companies bought 195 AI startups up to 29 September, 14% more than in all of 2025, Mary Ann Azevedo reported for Crunchbase News on Tuesday. The number of buyers grew only 2%.
OpenAI 今年完成了 10 笔交易。Anthropic 和斯德哥尔摩的法律人工智能公司 Legora 各自宣布了 5 笔交易。Harvey 完成了 4 笔，其中包括 9 月份对 Guardrails AI 的收购。Sierra 和 Cursor 各自完成了 3 笔，Cohere 完成了 2 笔。在这 195 笔交易中，仅有 12 笔披露了价格。
OpenAI made 10 of the deals this year. Anthropic and the Stockholm legal AI company Legora announced five each. Harvey made four, including Guardrails AI in September. Sierra and Cursor made three each, and Cohere two. Only 12 of the 195 deals came with a disclosed price.
Legora 的首席财务官 David Eckstein 今年早些时候在一条领英帖子中写道：“并购明确是我们加速构建产品的一部分。”
“M&A is explicitly part of how we accelerate what we’re building,” Legora’s chief financial officer, David Eckstein, wrote in a LinkedIn post earlier this year.