Are AI Startups the Key to North Americas Funding Surge in 2024

North American startup funding rose significantly in Q2 due to a surge in early-stage AI investments. Total funding reached $45.3 billion, a 30% increase from the previous quarter and a 35% rise from the same period last year. AI-focused startups secured $16.8 billion, with Elon Musk's xAI receiving over a quarter of all early-stage funding. While AI saw substantial investment, sectors like enterprise software, consumer products, and fintech lagged. Late-stage investment increased to $19.4 billion, with notable rounds from CoreWeave, Scale AI, and Wiz. Early-stage investments surged to $22 billion, driven by xAI’s $6 billion Series B. Seed-stage investment remained stable at $3.9 billion. Major M&A deals included Hg’s $3 billion purchase of AuditBoard and Merck's acquisition of EyeBio. IPO activity was limited, with Rubrik and Tempus among the few companies to go public.

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