Despite few funding deals of this magnitude in the last quarter, venture funding to AI-related startups has seen a slight increase in Q1 2024 compared to Q4 2023. Around $12.2 billion was invested in venture-backed AI startups in 1,166 deals in Q1, a 4% increase from the $11.7 billion invested in 1,072 deals in the previous quarter.
Key takeaways:
- AI cloud infrastructure startup CoreWeave has raised $1.1 billion in a funding round led by Coatue, increasing the company's valuation to $19 billion.
- The new funding round includes investors such as Magnetar Capital, Altimeter Capital, Fidelity Management & Research Co. and Lykos Global Management.
- The new capital will be used to fund growth, including expansion into new geographic markets due to high demand for GPU accelerated cloud infrastructure worldwide.
- Despite few funding deals of this magnitude, venture funding to AI-related startups increased slightly in Q1 2024 compared to Q4 2023, with around $12.2 billion invested in venture-backed AI startups in 1,166 deals.