Startups located in the Bay Area vacuumed up $90 billion of VC investment in 2024, which was 57% of the $178 billion of global venture funding spent last year, new stats released on Tuesday by Crunchbase show. In 2024, OpenAI, headquartered in San Francisco, was obviously the mothership, both in spawning a nearby AI startup industry complete with its own deep-pockets startup fund, and in the VC dollars it scooped up for itself. But others include San Francisco's Databricks and its record-breaking $10 billion in funding; Elon Musk's xAI, which raised $12 billion in two rounds last year and promptly moved into OpenAI's old headquarters in the San Francisco Mission District; Mountain View's Waymo and its $5.6 billion Series C; San Francisco's Anthropic, which raised over $8 billion in 2024; and big raises in 2024 from San Francisco's Scale AI and Perplexity. And, as we previously reported, this isn't just happenstance. It's a result of the area's dominance in AI, the biggest tech of...
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