Bay Area Swallows Q1 Venture Capital as Seattle and Los Angeles Fall Further Behind

OpenAI, Anthropic and xAI concentrate $221.1 billion in Northern California while Southern California and the Pacific Northwest scrape single-digit billions in a market defined by extreme concentration. The West Coast venture capital map has never looked more lopsided. In the first quarter of 2026, the San Francisco Bay Area absorbed $221.1 billion across 669 deals, […]