Sequoia Capital has raised $7 billion for a new fund to expand its focus on AI technology, focusing on the U.S. and Europe. The fund is nearly double the size of the previous comparable fund. This is the first major capital raise under the firm's new leadership, with Alfred Lin and Pat Grady now serving as co-stewards. The funds will be used to support companies that can scale at a rapid rate and potentially make significant investments in AI technology.