According to data by Crunchbase, investments in artificial intelligence (AI) startups has surged to $ 24 billion from April 2024 to June 2024, more than doubling from previous quarter highlighting the growing appetite for the new technology.
As per the data, overall startup funding grew 16 per cent sequentially to touch $ 79 billion in the last quarter primarily driven by investments in AI, which became the largest sector for the first time, followed by healthcare and biotechnology.
OpenAI’s ChatGPT has unleashed a race to adopt the latest AI technology in areas such as business productivity, healthcare, and manufacturing.
The data stated that 5 out of 6-billion-dollar funding rounds went to AI companies. The top deals included xAI raising $ 6 billion and CoreWeave’s raising $ 1.1 billion in its latest funding round. Wayve and Scale AI were also on the list. In addition, Wiz raised a billion-dollar in its latest funding round outside of AI. Further, despite last quarter’s uptick, startup funding has been low compared to the levels seen in the past three years. Global funding declined 5 per cent to $ 147 billion in the first half (H1) of 2023 and was flat compared to H2 2023.
