AI companies raised over $10 billion in Q3 2023, with the largest rounds going to OpenAI competitor Anthropic and cloud data company Databricks. Late-stage funding increased in Q3, with large fundings going to companies in the semiconductor, sustainability, and AI sectors. However, early-stage funding showed the steepest decline year over year, and seed funding also decreased. Despite large fundings to AI, semiconductor, and sustainability sectors, global funding has slowed down, with a 42% decline year over year for the first three quarters of 2023.
Key takeaways:
- Global venture funding in Q3 2023 reached $73 billion, down 15% from the $86 billion invested in Q3 2022, with seed and early-stage funding continuing to decline.
- AI companies raised more than $10 billion in Q3 2023, with the largest rounds going to OpenAI competitor Anthropic and cloud data company Databricks.
- Late-stage funding increased in Q3 2023, up 30% quarter over quarter and almost 10% year over year, totaling $43 billion, with significant growth in Asia and Europe.
- Despite large fundings to AI, semiconductor and sustainability sectors, global funding in the first three quarters of 2023 marked a 42% decline year over year, down from the $381 billion invested in the same timeframe in 2022.