Institutional investors are pouring record amounts of capital into private equity and venture deals in 2026, as blockbuster artificial intelligence funding rounds—led by companies such as Anthropic—reshape the private markets.

Limited partner coinvestments totaled $198 billion between January 1 and June 25, according to S&P Global Market Intelligence. That figure has already exceeded the full-year total recorded in five of the last six years and puts 2026 on track to surpass the $253 billion invested across all of 2025.

The surge has been driven in large part by a handful of blockbuster AI financings. S&P said three funding rounds for Anthropic, including the company’s $65 billion raise, as well as a major financing for rival xAI, ranked among the 10 largest global coinvestment transactions completed since the start of 2025.

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