That continues a trend from 2023, when generative AI companies raised $25.9 billion for the full year, up more than 200% from 2022.
The average round for AI companies is 140% bigger this year compared with last, the data shows, while for non-AI companies the increase is only 10%.
Most venture investors are bullish on the potential for generative AI to eventually create big returns at the application layer.
John-David Lovelock, an analyst at Gartner and a 35-year veteran of the IT industry, sees a big opportunity for generative AI in the enterprise.
Yet, in 2024, only 1% of the trillion dollars spent on software will be from businesses spending on generative AI products, he said.
Persons:
Adam Selipsky, Anthropic, Dario Amodei, Noah Berger, aren't, They're, Melissa Incera, Chip Hazard, PitchBook, that's, Cerebras, hasn't, Jeremiah Owyang, Owyang, That's, —, Cohere, Tobias Lutke, Inovia, JPMorgan Chase, Elon Musk's, what's, NASA's, Joe Raedle, Michael Harris, David Lovelock, Lovelock
Organizations:
Amazon Web, Getty, Microsoft, Nvidia, Tech, P Global Market Intelligence, CNBC, U.S, Forge, Flybridge Capital Partners, Federal Reserve, Meta, Nasdaq, Benchmark, Foundation Capital, SEC, Blitzscaling Ventures, Menlo Ventures, Inovia, Menlo, SPV, AMD, Oracle, Representatives, JPMorgan, Morgan Private Ventures, Elon Musk's SpaceX, SpaceX, Polaris, NASA's Kennedy Space Center, New York Stock Exchange, NYSE, Astera Labs, Tempus, Google, Facebook, Gartner
Locations:
Vegas, Las Vegas, PitchBook, Anthropic, Montreal, xAI, Cape Canaveral , Florida