However, this increase in AI funding comes amidst a decline in overall deals for startups. There was a 31% drop in total startup deals compared to the previous year, amounting to $73 billion worldwide. Despite this, AI companies continue to attract significant investments.
Key takeaways:
- Multibillion-dollar investments in artificial intelligence startups have become almost commonplace in Silicon Valley.
- Dollars raised for AI companies are outpacing funding totals in every other category of tech, reaching $17.9 billion in the third quarter.
- According to PitchBook data, the value of funding for AI companies climbed 27% globally in the third quarter compared to the year before.
- Overall deals for startups fell 31% from a year earlier to hit $73 billion worldwide.