How AI Dominated Startup Funding in 2024

In 2024, AI companies receive a record 35% of U.S. startup funding, surpassing the previous year. Venture funding overall is lower than three years ago. Five companies raise over $1 billion each, with xAI leading at $6 billion in a Series B round. Not all funded companies focus exclusively on AI; many apply AI technologies within specific sectors or for foundational technologies. Pioneers like OpenAI and Anthropic lead core technology development. Other funded startups, such as Abnormal Security, Flyr, and Abridge, apply AI to email security, travel automation, and healthcare documentation, respectively. Future quarters will reveal trends in AI funding and the changing landscape of investment recipients.

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