Investments in generative AI, which encompasses a range of AI-powered apps, tools, and services to generate text, images, videos, speech, music, and more, reached new heights last year. According to data from financial tracker PitchBook compiled for TechCrunch, generative AI companies worldwide raised $56 billion from VCs in 2024 across 885 deals. 'We aren't seeing a slowdown in generative AI funding, as big names like OpenAI, Anthropic, and xAI continue to secure major raises and release new, competitive products,' said Ali Javaheri, an emerging technology analyst at PitchBook, in an interview. Deal value in Q4 2024 soared to $31.1 billion with the closure of mammoth rounds like Databricks' $10 billion Series J, xAI's $6 billion Series C, Anthropic's $4 billion strategic investment from Amazon, and OpenAI's $6.6 billion round. Mergers and acquisitions were a small share of generative AI investments in 2024: $951 million, per PitchBook data. To be clear, that's exclusive of the...
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