Q2 2026 PitchBook-NVCA Venture Monitor released July 9, 2026. H1 2026 deal value 100M+) captured 87.5%. AI accounted for 86% of venture dollars. SpaceX $1.7T IPO generated more exit value in one quarter than prior decade combined. OpenAI and Anthropic confidential IPO filings. Three firms — a16z, Thrive, Founders Fund — 48.1% of capital raised. First-time fund formation lowest since 2016. Market setting records at top while contracting underneath.