The Thiel Foundation has officially unveiled its 2026 class of Thiel Fellows, awarding a new cohort of young entrepreneurs the resources and runway to pursue their most ambitious ideas outside conventional institutional paths.

Established in 2011, the two-year Fellowship grants each recipient $250,000 over the course of the program, along with access to a network spanning tech founders, investors, scientists, and alumni fellows. In exchange, fellows commit to working full-time on their projects, companies, or ideas. The program has long distinguished itself by investing in the individual as much as the venture — a deliberate departure from credential-driven gatekeeping.

One quarter. Three months. $297 billion into AI startups.

All of last year was a record at $425B. Q1 alone is on pace to nearly triple that.

At some point the question isn’t “is AI overfunded” — it’s “what happens when a meaningful fraction of these bets don’t return.” The answer is probably: a lot of people lose a lot of money, a few technologies stick around, and the narrative shifts to “the real AI” coming next.