PitchBook：2025年二季度人工智能和机器学习风险投资趋势报告（英文版）

AI VC deal activity in Q2 2025 cooled from Q1 highs but remained elevated compared with previous quarters, reflecting continued investor conviction in core infrastructure and application layers. Horizontal platforms continued to lead in capital deployment, while vertical applications accounted for most of the deal volume. This pattern suggests investors are simultaneously backing platform scalability through horizontal infrastructure and targeted innovation through domain-specific application