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The Hype is Over: AI Landscape in Venture Capital 2024
- Global AI funding has hit $290 billion over the past five years, with more than 15,400 deals completed since 2022, according to Pitchbook.
- The AI market could grow to $2 trillion by 2030, covering sectors from AI software to hardware and services.
- Large late-stage funding rounds are taking center stage, with established AI companies with proven models raising billions.
- Generative AI startups receive an annual funding contribution of $26 billion for the last five years, particularly across content creation, healthcare, and enterprise solutions.
- There are more than 100 VC funds actively investing in the AI market, with some taking a more cautious approach to revenue and more stable market conditions.
- VCs are focusing less on seed-stage deals as they zero in on startups with established product-market fit.
- AI infrastructure and hardware companies are seeing increased funding as generative AI models demand more computing power.
- VCs are drawn to startups applying AI in healthcare, finance, and defense.
- The next wave of billion-dollar startups in AI could focus on human-AI collaboration, autonomous energy management, and quantum molecular modeling.
- For AI to be a force for good, AI systems need to be built avoiding discrimination and addressing the digital divide.
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