Bengaluru — As the rush towards AI-related companies continues on Wall Street, data from Crunchbase showed on Monday that the sector enjoyed a bulk of venture funding in the third quarter, with names including Anthropic raking in billions.
Global venture funding in the third quarter increased 38% year-over-year to $97 billion, increasing slightly from $92 billion in the second quarter.
About 46% of global venture funding for the third quarter went towards funding AI companies, with 29% invested solely in Anthropic.
The three largest venture rounds in the quarter ending in September were raised by foundation model companies: $13bn by Anthropic, $5.3bn by xAI and $2bn from Mistral AI.
The craze for AI-related companies has swept across Wall Street this year and was largely responsible for pushing the main stock indexes to record highs.
ChatGPT parent OpenAI reportedly became the most valuable private company in the world last week with a valuation of $500bn.
Crunchbase data shows other private players in the AI chatbot space were leading funding in the last quarter.
Funding for US companies dominated in the quarter, with $60bn worth of global venture capital going to US-based companies.
Funding for the hardware sector was the second-largest in the quarter, with large rounds raised by robotic, semiconductor, quantum and data infrastructure companies totalling $16.2bn, according to Crunchbase’s data.
Healthcare and biotech raised $15.8bn in venture funding, making it the third-largest sector in the quarter.
Reuters
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