Current news in startups and venture investments as of February 16, 2026: mega rounds in AI, valuation increases, market consolidation, and strategies of global venture funds. An analysis for investors and VC funds.
The VC Market: Capital Exists, but Discipline is Tougher
Venture investments are entering mid-February 2026 with a mixed signal: funds still have significant capital, but the criteria for deal selection are tightening. Turbulence has increased in the public market, particularly in the software segment, directly affecting private valuations, terms of funding rounds, and companies' willingness to go public. For venture funds, this signifies a return to "quality investing" — emphasizing revenue, retention, unit economics, and demonstrated effectiveness of AI products rather than mere promises of growth.
- Key Shift: An increase in the share of structured rounds (tranches, performance criteria, stricter liquidation preferences).
- Secondary Market: There is active discussion around partial sales of stakes and risk-sharing deals among investors.
- Funds' Strategy: Focus on "AI infrastructure" and applied verticals where AI provides measurable efficiency gains.
Mega Round AI: Record Valuations and Capital Concentration
The most talked-about 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 peak" where valuations are rising faster than industry averages. Investors are effectively paying not only for current metrics but also for strategic positions in the value chain: models, data, computation, and corporate integrations.
Investors' focus is shifting towards companies that:
- have sustainable enterprise revenue and a clear implementation economy;
- control critical resources (training, inference, infrastructure, cloud partnerships);
- transform AI into product packages for specific functions (coding, support, sales, analytics).
AI Infrastructure: Computation, Chips, and the "Energy" Side of AI
In 2026, the venture market is increasingly pivoting from "wrappers" to the fundamentals: chips, data centers, cloud infrastructure, and energy efficiency. Investors are assessing not only the technology but also the startup's ability to scale in a capital-intensive environment.
- Cerebras Systems closed a late-stage funding round at $1 billion, with a valuation of around $23 billion, highlighting demand for alternatives in AI computation and market desire to diversify supply chains.
- Neysa (AI-cloud infrastructure) attracted a significant investment package, aiming for a $1.4 billion enterprise valuation, demonstrating growing interest in regional AI platforms and infrastructure for models.
- C2i Semiconductors received $15 million for power management solutions for AI data centers — signaling that "energy efficiency" is becoming as much an investment thesis as model training speed.
For venture investors, this is an important marker: the growth of AI is increasing demand for specialized components and infrastructure optimization, thereby creating more opportunities in niches previously dominated by corporations.
Voice AI and "Enterprise Packages": Betting on Revenue Rather than Demos
The voice AI segment is transitioning from the "wow effect" phase into systematic implementation: contact centers, employee training, sales, content localization, and multilingual interfaces. Notably, significant rounds are being secured by players that are building corporate products and scalable sales channels.
ElevenLabs raised $500 million in Series D at a valuation of about $11 billion. This deal confirms two trends:
- Investors are willing to pay for a sustainable enterprise trajectory and clear monetization scenarios;
- The market expects voice to become the standard interface for AI agents in support and sales, rather than a standalone "feature."
Fintech and M&A Deals: The Market is Reevaluating Risk and Asset Quality
Against the backdrop of volatility in software, pressure on valuations is intensifying, especially in B2B SaaS and fintech. This impacts negotiations for M&A deals and plans for public offerings. Some companies are postponing IPOs or reducing offering parameters to avoid locking in "negative" evaluations compared to expectations set in previous years.
For the venture market, this implies an increased likelihood of two scenarios:
- Consolidation — strong players are acquiring products/teams to quickly close functional gaps and reduce development costs;
- Down-round or Flat-round — rounds without valuation growth, but with a focus on maintaining runway and profitability.
Europe and the UK: Capital is Flowing into Energy, Resilience, and Industrial Cases
In Europe, including the UK, venture investments remain focused on areas where innovation is packaged in a clear regulatory and corporate logic: energy infrastructure, greentech, recycling, and industrial efficiency. This reflects a more "conservative" demand structure from major clients and the government.
- Interest is growing in platforms for energy markets and transaction management.
- Circular economy and recycling technologies are receiving funding due to contractual ties and pilots with industry.
Venture Fund Interests Map for the Week
To summarize the key signals, the global venture market in mid-February 2026 looks as follows:
- Top Sector: AI (models, agents, infrastructure, chips, energy savings in data centers).
- Growth Strategy: enterprise sales, partnerships with cloud providers and major integrators.
- Deals: major rounds for leaders and stricter conditions for the "middle of the market."
- Exits: The IPO window remains selective; M&A is becoming more realistic where synergies and cost savings exist.
What This Means for Investors: Practical Takeaways
For venture investors and funds, the key task in the coming weeks is to avoid overpaying for a "narrative" while maintaining access to AI growth. In an environment where public multiples are volatile and IPOs are delayed, the cost of mistakes is rising, but so is the value of discipline.
- In late-stage investments, check how the company defends against price competition and how much inference costs at scale.
- In growth/Series B–C, seek vertical AI cases with measurable ROI for clients and short implementation cycles.
- In seed, prioritize teams with rare expertise (chips, infrastructure, security, industrial AI), where barriers are higher and the risk of "commoditization" is lower.
- For the portfolio, prepare a plan for 12–18 months: extending runway, optional bridges, engaging with the secondary market, 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 come out on top.
