AI startups are witnessing record-breaking funding in 2024, with $23.6 billion raised in Q2, an increase of 71% from the previous year. Strong investments from major deals, including Elon Musk's xAI, have heightened interest and competition among startups to produce tangible AI solutions. In Q1, AI startups also raised $14.1 billion, 23% more than the same time last year, capturing nearly 58% of global VC investments. Despite various economic challenges, AI continues to excel, indicating a strong trajectory for 2025 beyond previous records.
AI startups raised nearly 70% of the total annual funding seen in 2022 and 2023 in just Q2, demonstrating unprecedented investor enthusiasm and market momentum.
The strong funding in Q2 2024 peaked at $23.6 billion, marking a 71% increase year-over-year and the highest quarterly total in AI startup history.
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