OpenAI precocious secured $6.6 billion successful backing astatine a valuation of $157 billion, but it's acold from the only AI institution pinch precocious fundraising potential. Investors poured $2.9 cardinal from July to September (Q3) of 2024 into the latest U.S.-based AI startups, per PitchBook data.
The 3 startups successful the U.S. that received immoderate of the astir backing were package improvement AI startup Magic, endeavor ChatGPT startup Glean, and AI archive hunt startup Hebbia, per TechCrunch. The 3 raised $320 million, $260 million, and $130 cardinal respectively successful the 3rd quarter.
Magic is creating AI that tin constitute codification and Glean is moving connected an AI hunt app for businesses. Hebbia focuses connected AI agents for finance, law, and large companies.
An earlier PitchBook report from August shows that investor liking successful AI is semipermanent and extends beyond the past quarter. The study showed that AI comprised 41% of U.S. VC deals successful the first half of 2024, pinch $38.6 cardinal of the $93.4 cardinal full successful VC deals going to AI startups.
Related: AI Startups Raised $50 Billion Last Year, But Some Investors Are Starting to Pass — Here's Why
Going backmost further to past year, AI was 1 of the fewer industries pinch the most maturation successful unicorn startups, aliases businesses pinch a valuation complete $1 billion. In an different reliable fundraising year, the number of AI unicorns grew by 22.9%.
Even arsenic it presents opportunities, AI carries its ain unsocial group of challenges. For one, the costs of processing an AI exemplary is high. Anthropic CEO Dario Amodei stated successful July that it would return $10 cardinal to train AI "better than astir humans astatine astir things." He estimated that AI companies would scope that constituent wrong the adjacent 3 years and that now it takes astir $100 cardinal to train an AI model.
AI besides has a hefty electrical bill. Microsoft, Google, and different large tech companies are turning to atomic powerfulness arsenic a root of carbon-free energy; AI helped summation Google's greenhouse emissions by 48% wrong 4 years.
Still, AI remains an area of precocious liking among founders. 156 retired of the 208 startups accepted to the summertime people of Y Combinator, an acclaimed startup accelerator, focused connected AI.
Related: Y Combinator Helped Launch Reddit, Airbnb and Dropbox. Here's What I Learned From ItsStartup School.
One startup laminitis not affiliated pinch Y Combinator, Sahil Agarwal of AI information startup Enkrypt AI, talked to Entrepreneur earlier this twelvemonth astir the dangers and opportunities AI poses.
"What ChatGPT did is it made AI existent for everyone," he said.
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