<p>➀ In Q1'25, global venture funding reached $121 billion, driven by OpenAI's $40 billion raise, valuing the company at $300 billion; </p><p>➁ Despite a decline in deal count, AI startups remained the primary beneficiaries of this capital concentration, capturing more than half of the quarter's funding; </p><p>➂ The AI dealmaking landscape is evolving, with a shift from infrastructure investments to vertical solutions and application-layer platforms.</p>