37.6 billion in total funding, 2 billion USD in a single round — the big model money-burning game is entering the final night, startups that didn't make it into the top tier are now under immense pressure.

In May, domestic AI venture capital showed a Matthew effect, with funds rapidly concentrating on leading companies. The Dark Side of the Moon completed a new round of financing of approximately $2 billion, with a post-investment valuation exceeding $20 billion, and total financing surpassing 37.6 billion yuan, making it one of the largest single-round private placements in the large model field. Investment and financing are active in the embodied intelligence sector, with companies like Feijie Kesi and Mou Shen Intelligent securing billion-yuan-level funding. Projects such as Vitas Power and Luming Robots also completed large-scale transactions successively, and industry enthusiasm continues to rise.