Current startup and venture capital news as of February 16, 2026: mega-rounds in AI, rising valuations, market consolidation, and strategies of global venture funds. Analytics for investors and VC funds.
VC Market: Capital is Available, but Discipline is Stricter
As of mid-February 2026, venture investments are presenting a mixed signal: venture funds still have significant capital, but the criteria for deal selection are tightening. Increased turbulence in the software segment of the public market is directly impacting private valuations, funding round conditions, and companies' willingness to pursue IPOs. For venture funds, this signifies a return to “quality investing”—emphasizing revenue, retention, unit economics, and proven effectiveness of AI products over mere growth promises.
- Key Shift: Rising share of structured rounds (tranches, performance criteria, stricter liquidation preferences).
- Secondary Market: Increased discussions around partial stake sales and risk reallocation transactions among investors.
- Fund Strategy: Focus on “AI infrastructure” and applied verticals where AI provides measurable efficiency gains.
AI Mega-Rounds: Record Valuations and Capital Concentration
The most striking topic of the week is the continuation of the mega-round era in generative AI. Major deals are amplifying capital concentration around a few leaders, forming a “market upper tier,” where valuations are rising faster than industry averages. Investors are essentially paying not only for current metrics but also for a strategic position in the value chain: models, data, computing, and corporate integrations.
Investment focus is shifting towards companies that:
- possess stable enterprise revenue and clear deployment economics;
- control critical resources (training, inference, infrastructure, cloud partnerships);
- convert AI into packaged products for specific functions (coding, support, sales, analytics).
AI Infrastructure: Computing, Chips, and the “Energy” Side of AI
In 2026, the venture market increasingly shifts from “wraps” to fundamentals: chips, data centers, cloud infrastructure, and energy efficiency. Investors are assessing not only technology but also the ability of startups to scale in a capital-intensive environment.
- Cerebras Systems closed a late funding round at $1 billion with a valuation of around $23 billion, highlighting demand for alternatives in AI computing and the market's desire to diversify supply chains.
- Neysa (AI-cloud infrastructure) raised a substantial investment package targeting a $1.4 billion enterprise valuation, indicating growing interest in regional AI platforms and infrastructure for models.
- C2i Semiconductors secured $15 million for power management solutions for AI data centers—signaling that “energy efficiency” is becoming just as significant an investment thesis as the speed of model training.
For venture investors, this is an important marker: the growth of AI increases demand for specialized components and infrastructure optimization, thus creating more opportunities in niches previously dominated by corporations.
Voice AI and “Enterprise Packages”: Betting on Revenue, Not Demos
The voice AI segment is transitioning from the “wow-factor” phase to systematic implementation: contact centers, staff training, sales, content localization, and multilingual interfaces. Notably, substantial rounds are being secured by players developing corporate products and scalable sales channels.
ElevenLabs raised $500 million in Series D at a valuation of around $11 billion. This deal confirms two trends:
- investors are willing to pay for sustainable enterprise trajectories and clear monetization scenarios;
- the market expects that voice will become the standard interface for AI agents in support and sales, rather than an isolated “feature”.
Fintech and M&A Deals: The Market is Reassessing Risk and Asset Quality
Amidst volatility in software, there is increasing pressure on valuations, particularly in B2B SaaS and fintech. This influences negotiations on M&A deals and plans for placements. Some companies are postponing IPOs or lowering placement parameters to avoid locking in a “negative” valuation compared to expectations from previous years.
This indicates a rising likelihood of two scenarios in the venture market:
- Consolidation—strong players buy products/teams to quickly close functional gaps and reduce development costs;
- Down-round or Flat-round—rounds without valuation growth but with preserved runway and a focus on profitability.
Europe and the UK: Capital Flows into Energy, Sustainability, and Industrial Cases
In Europe, including the UK, venture investment focuses on areas where innovations are packaged in clear regulatory and corporate logic: energy infrastructure, greentech, recycling, and industrial efficiency. This reflects a more “conservative” demand structure from major purchasers and the state.
- There is a growing interest in platforms for energy markets and transaction management.
- Circular economy and recycling technologies are gaining funding due to ties with contracts and pilots in the industry.
Venture Fund Interest Map for the Week
If we gather the main signals, the global venture market in mid-February 2026 looks like this:
- Top Sector: AI (models, agents, infrastructure, chips, energy savings in data centers).
- Growth Strategy: enterprise sales, partnerships with clouds and large integrators.
- Deals: large rounds for leaders and stricter conditions for the “mid-market”.
- Exits: the IPO window remains selective; M&A is becoming more realistic where there is synergy and cost savings.
What This Means for Investors: Practical Takeaways
For venture investors and funds, the key task in the coming weeks is to avoid overpaying for “narratives” while maintaining access to AI growth. In a climate where public multiples fluctuate and IPOs are deferred, the cost of errors rises, but so does the value of discipline.
- In Late Stages assess how the company is protecting itself from price competition and what the cost of inference per unit is at scale.
- In Growth/Series B–C seek vertical AI cases with measurable ROI for clients and a short implementation cycle.
- In Seed prioritize teams with rare expertise (chips, infrastructure, security, industrial AI), where barriers are higher and the risk of “commoditization” is lower.
- Across the Portfolio prepare a plan for 12–18 months: extending runway, optional bridges, secondary market engagement, and M&A scenarios.
The main thesis of the day: venture investments in 2026 remain globally active, but the market demands evidence. Startups that convert AI from a loud promise into operational efficiency, revenue, and scalable products will emerge as winners.
