Overall, investors put $38.5 billion into reported seed- through growth-stage financings for countries in the region in Q3, per Crunchbase data. Of that, a majority went to AI-focused companies, echoing the trends we've seen globally. Around 55% of investment ' an estimated $21 billion ' went to AI-focused companies. Total funding is down substantially from the prior quarter, which was boosted by a $7.4 billion financing for China's DeepSeek, but still the second-highest tally on record. For Q3, a couple of extra-large rounds bolstered the AI investment tally. The largest went to Beijing-based foundational model company Moonshot AI, which secured $3.5 billion in July at a reported $35 billion valuation. Kling AI, the AI spinout of China-based short video platform Kuaishou Technology, was the second-biggest fundraiser. The generative video startup raised around $3 billion in a July financing that included Baidu and Tencent. Per Crunchbase data, roughly $27 billion ' or 70% of all...
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