Generative AI Companies Secure Record $56 Billion In 2024

According to BlockBeats, data compiled by financial tracker PitchBook for TechCrunch reveals that generative artificial intelligence companies globally raised $56 billion from venture capital in 2024, spanning 885 deals. This marks a new record for the sector, reflecting a 192% increase compared to 2023, when $29.1 billion was invested across 691 deals. The fourth quarter of 2024 saw a significant surge in deal value, reaching $31.1 billion. This increase was largely driven by substantial funding rounds, including Databricks' $10 billion Series J, xAI's $6 billion Series C, Anthropic's $4 billion strategic investment from Amazon, and OpenAI's $6.6 billion funding. Ali Javaheri, a frontier technology analyst at PitchBook, noted in an interview that there is no slowdown in generative AI financing. Prominent companies like OpenAI, Anthropic, and xAI continue to secure major investments and launch new competitive products.