tech
February 4, 2026
What a16z is actually funding (and what it's ignoring) when it comes to AI infra
Jennifer Li tells Equity where a16z sees this AI super cycle going next, including the talent crunch hitting AI-native startups, why search infrastructure matters more than people think, and what kinds of companies are actually getting funded right now.
TL;DR
- Andreessen Horowitz raised $15 billion, with $1.7 billion dedicated to its infrastructure team.
- The infrastructure team focuses on AI investments, including companies like OpenAI, ElevenLabs, and Ideogram.
- Jennifer Li, a general partner, leads the infra team and has a clear strategy for deploying the new funds.
- The infrastructure for AI development, covering chip design to developer software, is undergoing significant transformation.
- Li is skeptical about AI replacing human creativity in the near future.
- Discussions covered the AI super cycle, talent crunch in AI startups, the importance of search infrastructure, and current funding trends.
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