Generative AI startups receive 40% of venture capital funding in the cloud sector, with projected investments reaching $79.2B by 2024.
Generative AI startups are attracting 40% of venture capital funding in the cloud sector, with total investments projected to reach $79.2 billion in 2024, a 27% increase from 2023. This surge, driven by excitement around AI, follows a period of decline. Major U.S. firms dominate funding, receiving 80% of total investments, while European companies are growing rapidly. Despite this growth, the cloud industry faces macroeconomic challenges impacting enterprise budgets.
October 16, 2024
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