alt Hacker NewsThat’s typical. Large funding rounds usually aren’t delivered as one single giant lump sum into the bank account. The capital is committed in stages that can depend on hitting milestones or goals.
This is done even in smaller startup funding rounds some times.
Fair, I think a lot of what I've been perceiving is the gymnastics in how funding and valuation and deals get reported. There ends up being a ton of asterisks that makes the headline news deviate quite significantly from reality, e.g. https://arstechnica.com/information-technology/2026/02/five-...