North American startup funding hit $92B in Q3, down 35% QoQ but up 50% YoY, with $61B to AI startups; there were 11 $1B+ acquisitions and IPOs remained quiet (Joanna Glasner/Crunchbase News)

North American startup funding remains heavily concentrated in AI, with $61B of the $92B raised in Q3 flowing to AI startups despite a 35% sequential decline from the prior quarter. For CIOs and technology leaders, this signals continued vendor and ecosystem momentum around AI while IPO markets stay muted, making M&A and private funding the primary forces shaping the software landscape and partner options for IT organizations.