Current news on startups and venture investments as of February 16, 2026: mega-rounds in AI, increased valuations, market consolidation, and strategies of global venture funds. Insights for investors and VC firms.
VC Market: Money is Available, but Discipline is Tighter
Venture investments enter mid-February 2026 with mixed signals: funds still have significant capital, but deal selection criteria are becoming stricter. Public market turbulence in the software segment is directly impacting private valuations, funding round terms, and companies' readiness to go public. For venture funds, this signals a return to "quality investment" — focusing on revenue, retention, unit economics, and evidence of the effectiveness of AI products rather than promises of growth.
- Key Shift: Increase in the share of structured rounds (tranches, performance criteria, stricter liquidation preferences).
- Secondary Market: More active discussions around partial stake sales and risk-sharing deals among investors.
- Funds' Strategy: Focus on "AI infrastructure" and applied verticals where AI provides measurable efficiency gains.
AI Mega-Rounds: Record Valuations and Capital Concentration
The most prominent topic of the week is the continuation of the mega-round era in generative AI. Major deals are intensifying capital concentration around a few leaders, forming a "market top" where valuations are rising faster than industry averages. Investors are effectively paying for not only current metrics but also for strategic positions within the value chain: models, data, computations, and corporate integrations.
Investor focus is shifting to companies that:
- have sustainable enterprise revenue and clear implementation economics;
- control critical resources (training, inference, infrastructure, partnerships with cloud providers);
- convert AI into product bundles for specific functions (coding, support, sales, analytics).
AI Infrastructure: Computing, Chips, and the "Energy" Side of AI
In 2026, the venture market is increasingly pivoting from "wrappers" 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 capital-intensive environments.
- Cerebras Systems closed a late funding round of $1 billion at a valuation of around $23 billion, underscoring 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 valuation of $1.4 billion, reflecting growing interest in regional AI platforms and infrastructure for models.
- C2i Semiconductors secured $15 million for power management solutions for AI data centers — a sign that "energy efficiency" is becoming as much an investment thesis as model training speed.
For venture investors, this is a significant 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, Not Demos
The voice AI segment is transitioning from a "wow-effect" phase to a systemic implementation phase: contact centers, employee training, sales, content localization, and multilingual interfaces. Notably, large rounds are going to players that are building enterprise products and scalable sales channels.
ElevenLabs raised $500 million in Series D at a valuation of approximately $11 billion. The 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 separate "feature".
Fintech and M&A Deals: The Market is Reassessing Risk and Asset Quality
Amid volatility in software, pressure on valuations is increasing, particularly in B2B-SaaS and fintech. This is affecting M&A deal negotiations and placement plans. Some companies are delaying IPOs or scaling back placement parameters in order not to lock in a "down" valuation compared to past years' expectations.
For the venture market, this signals a rising likelihood of two scenarios:
- Consolidation — strong players acquiring products/teams to close functional gaps more quickly and reduce development costs;
- Down-round or flat-round — rounds without valuation growth but maintaining runway and focusing on profitability.
Europe and the UK: Capital is Directed Towards Energy, Sustainability, and Industrial Use Cases
In Europe, including the UK, venture investment remains focused on sectors where innovation is packaged within understandable regulatory and corporate frameworks: energy infrastructure, greentech, recycling, and industrial efficiency. This reflects a more "conservative" demand structure from large customers and the government.
- Growing interest in platforms for energy markets and transaction management.
- Technologies related to the circular economy and recycling are receiving funding due to ties to contracts and pilot projects with industry.
Venture Funds' 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 tighter conditions in the "mid-market".
- Exits: IPO windows remain selective; M&A is becoming more realistic where synergy and cost savings exist.
What This Means for Investors: Practical Conclusions
For venture investors and funds, the key task in the coming weeks is not to overpay for "narrative" while maintaining access to AI growth. With public multiples fluctuating and IPOs being delayed, the cost of mistakes is rising, but so is the value of discipline.
- In late stages, check how the company is defending against price competition and the cost of inference per unit at scale.
- In growth/Series B-C, look for vertical AI cases with measurable ROI for customers 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.
- Across the portfolio, prepare a plan for the next 12-18 months: extending runway, optional bridging, working with the secondary market, and M&A scenarios.
The main takeaway of the day: venture investments in 2026 remain globally active, but the market demands evidence. The beneficiaries are startups that are transforming AI from a loud promise into operational efficiency, revenue, and scalable products.
