AI Startup Funding Hit a Record $97 Billion in 2024

Venture capitalists put $97 billion into artificial intelligence startups in the US last year — a new record in a year of multibillion-dollar megarounds for companies like Elon Musk’s xAI, OpenAIand Anthropic.

The AI-focused deals represent an increasing share of all startup investment, according to new PitchBook data released Tuesday. Almost half of the total $209 billion raised by US startups last year went to AI companies, the research firm said, the highest portion on record.

The total amount of funding for startups ticked up for the year, rising by about one-third from 2023. Meanwhile, VCs themselves raised $76.1 ...