A16z's fifth growth fund has increased in size to $8.5 billion and completed a $1.1 billion AI hardware fund fundraising

According to TechCrunch, venture capital firm a16z has expanded the size of its fifth growth fund from $6.75 billion to $8.5 billion, with an additional $1.75 billion in funding. A16z has raised $1.1 billion for its AI hardware fund, which focuses on infrastructure startups such as chips, storage, and networking. David George, the head of the a16z growth investment team, stated that the relevant growth funds have invested in over 100 companies in the past 7 years.