Y Combinator built its empire on software. Its latest investment thesis says the garage is no longer enough.

Y Combinator’s Summer 2026 Request for Startups lists 15 categories, eight of which require hardware or capital, including agriculture robots, counter-drone defence, space inference chips, lunar manufacturing, and semiconductor supply chain software. The document represents the most dramatic pivot in YC’s public investment thesis, signalling that the accelerator which built its reputation on software now believes the next decade of billion-dollar outcomes will come from AI applied to physical, regulated, and capital-intensive industries.

Y Combinator published its Summer 2026 Request for Startups in late April, just days before the application deadline. The document lists 15 categories of companies that YC’s partners want to fund. Eight of them require capital, hardware, or both. The list includes AI for low-pesticide agriculture, counter-swarm drone defence, inference chips for space, lunar manufacturing from molten regolith, and semiconductor supply chain software for a process that crosses a dozen countries and takes five ...