Follow the moneyEvery round in the atlas since 2022, by camp, with its source.

Who raised when

One row per camp. Dot size grows with the amount and is capped, so the $100B rounds read as labels rather than circles. Hover or tap a dot for the round; the two largest rounds in view are labeled.

The Period control above rescales this axis; click a year to start there.

Primary raises by camp, since 2022

Each lab counts toward its primary camp. Alphabet, Meta, Microsoft, Amazon, Nvidia and Tesla fund their AI from operating cash and have no rounds here, so the LLM and robotics bars understate them.

By year and camp

Total primary raises and the number of rounds, from what the atlas records. Cells are tinted by size within the whole table.

The other side of the trade

Disclosed short positions, published sell-side doubts, price signals in the credit markets, and the builders who have called it a bubble themselves. Listed as evidence of where the doubt sits, not as advice in either direction.

Public tickers

Listed companies with a position in at least one camp. Most are conglomerates where AI is one line among many; a few are pure plays.

Private valuations, latest round

Every round