2026上半年中国AI融资破3000亿创纪录，DeepSeek获510亿元A轮融资领跑
英文摘要
China's AI sector saw 1,203 equity financing events totaling 307.68 billion yuan in the first half of 2026, already exceeding the full-year 2025 total. DeepSeek's 51 billion yuan Series A round in June was the single largest deal and drove a monthly surge to over 100 billion yuan. The top four cities—Beijing, Hangzhou, Shanghai, and Shenzhen—accounted for 74% of deals and 86% of total funding, with Beijing leading at 95.5 billion yuan. By sub-sector, large model companies captured half of all capital at 159.85 billion yuan, followed by AI-embodied intelligence (90.64 billion yuan) and AIGC applications (59.61 billion yuan). Early-stage investments heavily favored world-model startups, while no pure large model ventures appeared among the top 10 early-stage deals, signaling that the large model startup window is closing.
中文摘要
2026年上半年，中国AI赛道共发生1203起股权融资事件，总金额达3076.82亿元，已远超2025年全年水平。6月DeepSeek完成510亿元A轮融资，推动单月融资额突破千亿。北京、杭州、上海、深圳四城贡献了七成以上交易量与近九成资金，其中北京以955亿元居首。细分赛道中，大模型公司吸纳了1598.53亿元，占总量过半；具身智能与AIGC应用分别以906.44亿元和596.05亿元紧随其后。早期投资集中押注世界模型企业，而前十大早期融资中未出现纯大模型公司，显示通用大模型创业窗口基本关闭。
关键要点
Total AI funding in H1 2026 reached 307.68 billion yuan across 1,203 deals, surpassing the 2025 full-year total.
2026年上半年AI融资总额达3076.82亿元，共1203笔交易，超过去年全年。
DeepSeek's 51 billion yuan Series A round in June accounted for the single largest deal and lifted the monthly total above 100 billion yuan.
6月DeepSeek的510亿元A轮融资推动当月融资额破千亿，成为最大单笔交易。
Beijing (95.5B yuan), Hangzhou, Shanghai, and Shenzhen dominated, capturing 86% of total funding; Hangzhou rose to second place due to DeepSeek.
北京以955亿元居首，杭州因DeepSeek跃居第二，四城合计占融资总额86%。
Large model firms absorbed half of all capital (159.85B yuan); embodied intelligence and AIGC apps were the next largest sub-sectors.
大模型赛道吸走一半资金（1598.53亿），具身智能和AIGC应用分列第二、三位。
Early-stage top 10 were dominated by world-model companies, and no pure large model startups appeared, indicating the window for generic large model startups has closed.
早期前十大融资中世界模型企业占主导，纯大模型公司缺席，反映通用大模型创业窗口关闭。