In another special solo episode, host Peter Walker tackles the most requested topic on The Data Minute: AI funding and valuations. Using data from Carta and Bessemer Venture Partners, Peter unpacks what’s really happening inside the AI boom.
He walks through five key charts that reveal where the capital is flowing, the massive valuation premiums AI-native companies command at Seed and Series A, and why San Francisco is still the undisputed center of the AI universe. Peter also breaks down Bessemer's new benchmarks for growth, "Supernovas" and "Shooting Stars", and explains the incredible speed at which top AI companies are reaching $100 million in revenue.
This episode is a tactical guide for founders, explaining the new growth expectations in venture and the critical trade-off between speed and profitability.
AI Fundraising Trends 2024:
https://carta.com/data/ai-fundraising-trends-2024
The State of AI 2025 - Bessemer Venture Partners:
https://www.bvp.com/atlas/the-state-of-ai-2025
Subscribe to Carta’s weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/
Explore interactive startup and VC data, with Carta’s Data Desk: https://carta.com/data-desk/
00:00 – Intro: A deep dive into AI funding and valuations
00:50 – How capital is flowing into AI by stage
01:34 – Why SF is the geographic center of AI
02:23 – The 40% valuation premium for AI startups at Seed
03:42 – The AI premium continues at Series A
04:37 – The barbell effect: Mega-rounds at early stages
05:07 – Bessemer's benchmarks: "Supernovas" vs. "Shooting Stars"
06:11 – A new class of company: The growth of a "Shooting Star"
07:22 – How quickly today's AI startups reach $100M ARR
08:25 – Takeaway #1: The bar for growth has been raised for everyone
08:54 – Takeaway #2: The trade-off between growth and profitability
09:50 – Final thoughts for early-stage founders
This presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only. This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2025 eShares, Inc., dba Carta, Inc. All rights reserved.