US venture capital funding has recovered from market lows, with AI startups driving a significant portion of the growth. According to PitchBook data, total capital raised by AI companies in 2024 was nearly 30% higher year-on-year, capturing 46.4% of the $209 billion raised last year. Notably, OpenAI and xAI, backed by Elon Musk, secured funding rounds of $6.6 billion and $12 billion respectively. However, analysts are uncertain whether this enthusiasm will be sustained, citing the need for AI companies to achieve significant business milestones to continue receiving unlimited access to capital.
https://channelnewsasia.com/business/ai-startups-drive-vc-funding-resurgence-capturing-record-us-investment-2024-4843276