Andreessen Horowitz Raises $15 Billion, Doubles Down on AI and Defense Startups

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Venture capital firm Andreessen Horowitz, also known as a16z, said on Friday it has raised more than $15 billion across five new funds, less than two years after its previous fundraising round, underscoring sustained investor appetite for technology despite a broader slowdown in venture capital fundraising.

The firm said it secured $6.75 billion for a growth fund focused on scaling startups, $1.7 billion for an artificial intelligence infrastructure fund, and $1.12 billion for a fund targeting national priorities such as defense, housing and supply chains. The remaining capital was spread across two additional funds, the firm said.

Venture capital fundraising has remained difficult due to weak exit activity in recent years. According to PitchBook data, only $118.6 billion in new commitments were closed last year, nearly $100 billion less than in 2024, while the number of new funds closed in 2025 was the lowest in a decade. Against that backdrop, a16z’s haul highlights how the largest and most established VC firms continue to attract capital from limited partners.

AI and defense technology have emerged as key bright spots, as the United States intensifies efforts to maintain its technological edge amid growing competition from China. Marc Andreessen, a co-founder of the firm, has been a prominent supporter of U.S. President Donald Trump and an adviser to the administration’s Department of Government Efficiency.

“The technology landscape that we will be investing into is intensely competitive with China,” said Ben Horowitz, co-founder and general partner at a16z. “At this moment of profound technological opportunity, it is fundamentally important for humanity that America wins.”

Reuters reported last April that a16z was seeking to raise a roughly $20 billion megafund focused on AI-driven growth-stage investments. The firm is one of Silicon Valley’s most influential venture capital players and has backed major technology companies including Facebook, Instagram, Coinbase and Lyft.

In its previous major fundraising round in April 2024, a16z raised $7.2 billion across five funds. The firm now manages more than $90 billion in assets across all its investment vehicles.

Physical AI Takes Centre Stage at CES, but Humanoid Helpers Remain Distant

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Just four years after the launch of ChatGPT brought artificial intelligence into the mainstream, CES in Las Vegas this week was dominated by talk of “physical AI” — robots, humanoids and autonomous systems that move AI beyond software and into the real world.

The annual technology show highlighted a clear shift by the global tech and auto industries from pure AI software toward hardware-driven applications. From robotics and autonomous driving to AI-powered home devices, exhibitors showcased visions of how AI could reshape daily life in the coming years.

Chip designer Arm Holdings said AI is fuelling a fresh wave of innovation and demand. Arm told Reuters it has reorganised its business to create a dedicated physical AI unit aimed at expanding into robotics. “AI is really driving a whole innovation and demand cycle,” said Chris Bergey, head of Arm’s PC and mobile unit.

Humanoid robots drew particular attention. Machines from companies including LG Electronics played poker, folded paper and danced with visitors. But their slow, carefully scripted movements underlined persistent hurdles such as limited processing power, battery constraints and difficulty handling real-world situations beyond pre-programmed tasks. Analysts said affordable, capable humanoid assistants remain years away.

AI HARDWARE MEETS SOFTWARE
Major tech players used CES to underline the convergence of AI hardware and software. Lenovo hosted a high-profile event featuring Jensen Huang and Lisa Su, unveiling its Qira AI assistant designed to work across PCs, phones and wearables, including services from companies such as Expedia.

Meta Platforms showcased upgrades to its Ray-Ban Display glasses and Neural Band, while Google introduced its Gemini AI model for TVs and smart home devices.

Alongside headline products, CES also featured more questionable AI applications. From AI-powered hair clippers and dry-cleaning gadgets to digital pets and talking avatars, analysts noted that many devices previously branded as “smart” now simply carried the AI label.

CHIPS UNDER THE HOOD
Behind the scenes, chipmakers stressed the need to move AI workloads from the cloud onto devices to control costs. Intel launched its Panther Lake laptop chip, built using its new 18A manufacturing process, while AMD unveiled new processors for AI PCs.

Still, questions remain over consumer demand. “The general consumer is still not aware of what an AI PC really means,” said Ben Bajarin of Creative Strategies, adding that it could take time before the benefits become clear.

While CES made clear that physical AI is the industry’s next big push, experts agreed that truly useful, affordable humanoid servants are still a long way off.

US Supreme Court to Hear Case Alleging Cisco Aided China’s Persecution of Falun Gong

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The U.S. Supreme Court on Friday agreed to hear an appeal by Cisco Systems, a case that could narrow the scope of a centuries-old U.S. law used to hold companies liable for human rights abuses committed abroad.

Cisco is challenging a 2023 ruling that revived a lawsuit first filed in 2011, which accuses the California-based technology firm of knowingly developing surveillance technology that enabled the Chinese government to monitor, detain and persecute members of the Falun Gong. The appeal is supported by the administration of U.S. President Donald Trump.

The lawsuit is based primarily on the Alien Tort Statute (ATS), a 1789 law that allows foreign plaintiffs to bring civil cases in U.S. courts for violations of international law. Long dormant, the statute has been increasingly tested in recent decades. Cisco is urging the Supreme Court to further limit its reach, arguing that the claims are unfounded and that the company sold technology to China that was legal under U.S. trade policy.

Plaintiffs also allege violations of the Torture Victim Protection Act, claiming Cisco executives “aided and abetted” acts of torture and persecution by Chinese officials. They argue that Cisco helped design and implement the so-called “Golden Shield,” an internet surveillance system used by Chinese authorities to target Falun Gong practitioners and other dissidents.

Falun Gong, founded in China in 1992, combines meditation and moral teachings drawn from Buddhism and Taoism. The Chinese Communist Party banned the movement in 1999 after mass protests in Beijing, labeling it an “evil cult,” and has since detained and imprisoned many of its members. Some plaintiffs allege they were subjected to beatings, electric shocks, sleep deprivation and force-feeding while in custody.

The case was initially dismissed in 2014, with a judge ruling that the alleged conduct lacked a sufficient connection to the United States. However, in 2023, the 9th U.S. Circuit Court of Appeals ruled that plaintiffs had plausibly alleged Cisco provided “essential technical assistance” with awareness that serious human rights violations were likely.

In agreeing to hear the appeal, the Supreme Court said it will focus on whether claims of aiding and abetting can proceed under the Alien Tort Statute and the Torture Victim Protection Act. The court is expected to hear arguments and issue a decision by the end of June.

A Cisco spokesperson welcomed the court’s decision, saying the company looks forward to presenting its case. Lawyers for the

plaintiffs did not immediately respond to requests for comment.