Wang: Compute accounts for roughly 80% of foundation model fundraises
Sarah Wang · Inside AI’s $10B+ Capital Flywheel — Martin Casado & Sarah Wang of a16z · Feb 19, 2026 · at 46:52
Sarah Wang (a16z growth partner) explains the capital structure and large round sizes of AI foundation model startups.
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“They have compute needs, right? That's 80% of a round that they typically raise, or typically of a round that they raise.”
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