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AI Sector Leads Global Funding with Over $100M Deals in 2024
Despite the challenges faced by startups in raising venture capital funding, the AI sector remains a strong contender. In the U. S. , AI companies have secured nearly 30 deals over $100 million in 2024, making it the global leader. Europe is also showing promise, with 14 investments valued at $100 million or more for AI companies.
Paris is establishing itself as the center of AI development in Europe, particularly in generative AI. The compute power, talent recruitment, royalty payments, and the desire for growth investments are driving the significant investments in the AI sector. Some noteworthy European AI startups include Wayve, Mistral, Helsing, Poolside, DeepL, H, Flo Health, and Pigment.
Brief news summary
Startups in general are struggling to secure venture capital funding, but the artificial intelligence (AI) sector is still attracting significant investments. In the US, AI companies have accounted for nearly 30 deals over $100 million in 2024, making it the global leader. Europe is not far behind, with 14 investments valued at $100 million or more for AI companies. Paris has become a hub for AI development in Europe, particularly in generative AI. AI startups are receiving funding primarily due to the immense compute power required for training and running AI models, the need to recruit top talent, the need to pay royalties for content IP, and the desire of investors to allocate their funds. Major funding rounds for European AI companies in 2024 include Wayve ($1 billion), Mistral ($650 million and $431 million), Helsing ($484 million), Poolside ($400 million), DeepL ($320 million), H ($220 million), Flo Health ($200 million), and Pigment ($145 million).
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