A16z plans to raise $6.9 billion for funds including AI-focused funds, pauses cryptocurrency fund expansion

According to a source, Silicon Valley venture capital giant Andreessen Horowitz plans to raise $6.9 billion from investors to establish a series of new funds, including two focused on artificial intelligence. The source stated that half of the new funds raised will be used for two specialized AI funds, one gaming fund, and one fund to support startups in the American vitality field. The company defines American vitality as companies that "address America's most urgent problems," including industries such as aviation, defense, and manufacturing. Andreessen will wait until next year to raise more cash for its cryptocurrency and biotech funds, after investing $4.5 billion in crypto funds in 2022.