According to the financial tracker PitchBook, compiled for TechCrunch, generative AI companies globally raised $56 billion in venture capital across 885 deals in 2024, as of January 5. This total cash amount set a new record for the sector. It represents a 192% increase compared to 2023, when investors put $29.1 billion into generative AI startups across 691 deals.
Among them, the transaction value in the fourth quarter of 2024 surged to $31.1 billion, primarily due to the completion of several massive fundings, such as Databricks' $10 billion Series J round, xAI's $6 billion Series C round, a $4 billion strategic investment in Anthropic from Amazon, and OpenAI's $6.6 billion funding.
Ali Javaheri, a frontier technology analyst at PitchBook, stated in an interview, 'We have not seen a slowdown in generative AI funding, as well-known companies like OpenAI, Anthropic, and xAI continue to secure significant funding and launch new competitive products.'