Why is AI dominating headlines in 2024? Let’s explore the biggest investments, valuations, and exits shaping this rapidly growing sector.
Read more below🧵:
1/ NVIDIA
NVIDIA’s competitive position in chips, processors, and systems for AI is hard to ignore - so is the 239% and 150% stock price growth in 2023 & 2024, respectively. Valued at an eye-watering $3.3 trillion, it is the world’s 3rd largest company behind Apple & Microsoft.
2/ ScaleAI
Scale AI, which provides data-labeling services to companies for training AI models, raised $1bn this year alone. In total, it has raised over $1.6bn and is valued at around $14bn at the time of writing.
3/ xAI
Elon Musk’s xAI raised an incredible $6bn in May to build an AI platform that will “accelerate human scientific discovery”. xAI is already valued at an impressive $24bn.
4/ Groq
Groq, an AI chip startup promising faster AI than rivals, raised $640m in August in a Series D round led by BlackRock and is already valued at over $3bn.
5/ CoreWeave
GPU infrastructure provider CoreWave raised $1.1bn this year. After 7 years of consistent growth, the company has been valued at an enormous $19bn.
6/ Safe Superintelligence
Founded by OpenAI co-founder Ilya Sutskever and AI investor Daniel Gross, Safe Superintelligence raised $1bn from investors this year (including Andreessen Horowitz) and is valued at $4bn.
7/ IPO Exits
This year has seen four stunning $1bn+ exits in AI.
➡ C3 AI, raised $228m, exit $9.6bn (IPO)
➡ FaceBank, Inc., raised $8m, exit $1.3bn (IPO)
➡ Mosaic ML, raised $64m, exit $1.3bn (M&A)
➡ SoundHound AI, raised $215m, exit $2.3bn (SPAC)
Source: https://lnkd.in/exW98Esj
8/ Lucrative opportunities are plentiful and investment is pouring into this space in the billions, with billions also pouring out through successful exits.
