[Bloomberg: AI Investment Boom Intensifies Venture Capital Market Divide, Small and Medium Funds Face Survival Challenges] DeepTech TechFlow reports, on August 4th, according to Bloomberg, the current venture capital market is undergoing significant structural division. As capital concentrates on top-tier AI startups, a large number of small and medium-sized venture capital funds are facing severe challenges such as fundraising difficulties, declining performance, and narrowing exit channels. The report highlights that the excessive hype around artificial intelligence has distorted the venture capital market. Data shows that just five companies—OpenAI, Anthropic, xAI, Waymo, and Nscale—accounted for 78% of all venture capital transaction volume in the first quarter of this year. A substantial amount of funding has flowed to a few top investors who made early bets on AI, such as Founders Fund and Andreessen Horowitz, while smaller emerging fund managers struggle to compete with these leading institutions. This divide is directly reflected in fundraising data. Last year, newly established management firms (managing three or fewer funds) raised only about $62 billion, a sharp decline of approximately 60% compared to the $163.4 billion raised during the 2022 pandemic peak. Even for experienced management teams, last year's fundraising totaled just $84 billion, only one-third of the amount raised in 2022. Many LPs are facing liquidity pressures and are more inclined to demand returns on existing investments rather than committing new funds.