Few venture firms have bet more aggressively on artificial intelligence than Sequoia Capital, and it isn’t slowing down. The Silicon Valley stalwart has raised roughly $7 billion for a new fund, according to Bloomberg. This substantial increase in capital reflects the firm’s ‘expansion strategy’—essentially its late-stage investing arm, focused on the U.S. and Europe. The money almost doubles Sequoia’s last comparable fund, a $3.4 billion vehicle raised in 2022.

That growth in fund size isn’t just about scale; it underscores the new reality of late-stage investing in the AI era. Companies can now scale at an unprecedented speed and cost. Sequoia sees the future deeply embedded in AI, from the giants building the underlying technology to the startups putting it to work. The firm has backed two prominent players in this race—OpenAI originally and, more recently, Anthropic—both of which are reportedly eyeing public listings in 2026.

Sequoia isn’t only swinging for the foundational AI heavyweights; it has also placed bets on other buzzy startups. Physical Intelligence, a Bay Area robotics startup, and Factory, which builds AI agents for enterprise engineering teams, are just two examples of Sequoia’s diverse portfolio.

The fundraise is also the first major capital raise under Sequoia’s new leadership, with Alfred Lin and Pat Grady now serving as co-stewards of the 54-year-old firm. As AI continues to evolve, Sequoia’s substantial injection of capital indicates a significant commitment to shaping the future of technology.