It's not becoming more common.

Uber, Didi, WeWork, Airbnb and a select few others have raised rounds that large. These are large businesses. Magic is an outlier in terms of what they're raising vs the size of their business. Those couple top companies have gotten a lot bigger in terms of revenue in the last three or four years. You aren't seeing other companies able to raise a billion dollars like they can. It's best to no longer think of those companies as traditional start-ups, they have more in common with their large publicly traded peers (Airbnb & Priceline for example).

So far it appears Magic raised $500m in the round -

https://www.reuters.com/article/us-magicleap-funding/startup...