Can Silicon Valley maintain its position as the center of America's tech industry after the COVID-19 pandemic? There seems to be an answer to this question that has been debated by the American tech community for months.
According to the latest data from CB Insights, the total financing of enterprises in the San Francisco Bay Area reached 23.7 billion US dollars in the second quarter, an increase of 93% over the previous year, and exceeded 20 billion US dollars for two consecutive quarters.
Although it's down from $25.2 billion in the first quarter, this figure is still more than double that of any other city in the US. In comparison, New York, which ranked second, had total corporate total of 11.2 billion US dollars in the second quarter, and Boston in third place, with total financing of 7.8 billion US dollars in the second quarter.
According to the data, the number of financing transactions completed by San Francisco Bay Area companies in the second quarter was 638, the largest of which was SambaNova System's Series D financing of 676 million US dollars.