The latest 2026 Yearbook from SpainCap, the private equity association in Spain, highlights the growing role of artificial intelligence (AI) in the investment strategy of Spanish firms. The report, coinciding with the 40th anniversary of the association, emphasizes how AI has become a central axis in decision-making for venture capital and private equity, reflecting a profound transformation in the sector. Currently, private equity in Spain manages over 100 billion euros, representing 6.27% of the national GDP and supporting more than 2,500 companies that generate around 530,000 jobs. In the last decade, the volume managed by the sector has quadrupled, establishing private equity as a key driver for business development, as noted by Elena Rico, president of SpainCap, in the report's preface. One of the new features of the 2026 Yearbook is the explicit presence of AI as a sector preference in the investment strategies of numerous management firms. The term "artificial intelligence" and its variants appear more than 40 times in the document, with a particular emphasis on companies whose main activity revolves around this technology, totaling over 25 direct mentions. The report lists a wide variety of Spanish startups specializing in AI, such as Aingura IIoT, Sherpa Europe, LightOn, Second Nature, Neureality, LendAI, Loops, Spotlight, Nagish, Peach, Verax, Tomato, Vendict, Munch, Saola, Alison, and Substrata. Additionally, projects applying AI in specific sectors are highlighted: Sax AI in compliance, Sycai in radiodiagnosis, Legit.health in dermatology, Mitiga in climate risk management, Naru Healthcare in oncology, Valerdat in supply chain, ShowMe with AI agents, and Mediktor in clinical triage. The ecosystem is enriched with technological initiatives like Hyperespectral (AI/ML), Shifters AI Robotics, and SmarkIA. AI also ranks among the top investment preferences of numerous entities, with over ten mentions in the report. It is common to find the combination "AI, Cybersecurity, and Digital" as a selection criterion, highlighted by management firms such as BeAble Capital, Big Sur Ventures, Galdana Ventures, and Inversis. These data, collected by SpainCap and published by media outlets like businessinsider.es, confirm that artificial intelligence has become a strategic pillar for private equity in Spain, driving innovation and business growth in the country.