According to a study by EY Ireland, venture capital investment in generative AI has reached $49.2 billion in the first half of 2025, surpassing the total for all of 2024. The average deal size has tripled to $1.5 billion as investors focus on later-stage companies. The US dominates the market, accounting for 97% of global deal value. Key growth areas include agentic AI and specialized real-world applications. The study also notes a shift towards companies building software on third-party foundation models.