Bay Area Captures 51% of AI Funding, 53% of B2B Venture Dollars

Carta released its Startup Ecosystem Leaderboard covering $124 billion invested into startups on its platform from July 2025 through June 2026. The Bay Area took 41.3% of all venture capital, or $51.3 billion. New York came second at 18.0%. Boston third at 8.7%.

Filter down to AI and B2B and the concentration gets more extreme. The Bay Area captures 51.5% of AI funding and 53.2% of B2B funding. More than half of every dollar going into these categories lands in one metro.

Stack the top two metros together: Bay Area and New York take 67.5% of AI venture dollars and 72.2% of B2B venture dollars. Two cities account for 7 out of every 10 B2B venture dollars in the US. Boston holds third at 8.3% in AI and 8.4% in B2B. After that it drops off. Austin and LA sit at 4.3% each in AI.

What This Means for Sales Teams

Funding concentration drives hiring concentration. If you are targeting AI or B2B sales roles, 67% to 72% of the opportunity sits in two metros. OpenAI's $122 billion round in Q1 2026 alone accounted for 45% of all US AI venture capital, reinforcing the Bay Area's dominance.

The Bay Area comp premium reflects this reality. Enterprise AE roles at AI startups are running $140k to $180k base, OTE $280k to $360k. That is 20% to 30% above equivalent roles in Boston or Austin. SDR roles start at $75k to $90k base, OTE $120k to $150k.

One exception: fintech belongs to New York. New York takes 58.9% of fintech funding versus the Bay Area at 20.8%. Proximity to banks, capital markets, and regulators drives that split.

The ANZ Angle

Carta maintains partnerships with ANZ VC firms including AirTree Ventures and Blackbird Ventures, though its regional headcount remains under 20. The US funding concentration has not changed ANZ dynamics: local AI and B2B startups still compete for a smaller pool of capital, which shows up in comp structures. Sydney enterprise AE OTE typically runs $160k to $200k AUD, roughly 40% below Bay Area rates when adjusted for cost of living.

Bottom line: if you are building an AI or B2B sales career and chasing the biggest deals, the Bay Area and New York account for 7 out of 10 venture dollars. That funding concentration directly shapes where sales roles are, what they pay, and how fast teams scale.