Funding for artificial intelligence (AI) startups in Europe reached a record high of $11 billion in 2024, according to multiple reports. This surge comes amid a broader decline in venture funding across the continent, which fell to $45 billion this year, as noted by Atomico. In the enterprise sector, AI spending has seen significant growth, with business expenditures increasing 500% year-over-year to $13.8 billion. A recent report from Menlo Ventures highlights that spending on generative AI has grown sixfold from $2.3 billion to $13.8 billion, while spending on AI applications surged eightfold to $4.6 billion. Key sectors driving this growth include healthcare, legal, and financial services. Additionally, it is projected that Big Tech's AI spending will exceed $240 billion in 2024, fueled by infrastructure demands and market opportunities.