Venture Funding Reaches $89 Billion in 2024, Up 60%, xAI Raises $6 Billion Amid AI Investment Surge

In a notable development for the artificial intelligence sector, venture funding reached $89 billion through mid-December 2024, reflecting a 60% increase year over year, according to Crunchbase data. This surge is attributed to heightened investor interest in AI companies, with discussions held with several investors regarding their funding strategies. Among the key players, xAI, a company founded by Elon Musk, has successfully raised $6 billion, positioning itself competitively against rivals such as OpenAI. Additionally, Citi Ventures, recognized as an active corporate venture investor, shared insights on its investment focus in AI, marking the conclusion of a series on AI investments for 2024.