Venture capital firm Accel says that funding for cloud startups is set to rise 27% in 2024 thanks to a boost from AI — the first year of growth in three…
Venture funding for cloud startups in the U.S., Europe and Israel this year is projected to rise 27% year-over-year, increasing for the first time in three years, according to a report from VC firm Accel.
Generative artificial intelligence startups are getting 40% of all the venture capital funding that flows into cloud companies, according to venture investors Accel., which looks at key cloud and AI trends, Accel said that venture funding for cloud startups based in the U.S., Europe and Israel is projected to rise to $79.2 billion this year, with artificial intelligence fueling much of the recovery.
This pales in comparison with the 38% increase the Nasdaq saw this year and is also down 39% from the Euroscape index's peak hit back in 2021. Not a single company in Accel's Euroscape index has seen revenue growth of more than 40% per year this year, compared with 23 businesses achieving the feat in 2021.
OpenAI raised a dominant $18.9 billion in 2023-24, taking the lion's share of VC funding that went to U.S. genAI companies. In Europe, the biggest funding amounts went to Britain's Wayve, France's Mistral and Germany's Aleph Alpha.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alfonso Soriano became baseball’s 1st 40-40-40 player, HRs, Doubles, and SBsThis Date in Baseball, September 22 - Alfonso Soriano became baseball’s 1st 40-40-40 player, HRs, Doubles, and SBs
Read more »
3 defensive gems that ended up denying José Ramírez entry to the 40/40 clubJosé Ramírez was robbed of at least three potential home runs during the regular season by opposing outfielders.
Read more »
On Using ChatGPT And Generative AI To Figure Out If You Have Low IQDr. Lance B. Eliot is a world-renowned expert on Artificial Intelligence (AI) with over 7.8+ million amassed views of his AI columns and been featured on CBS 60 Minutes. As a CIO/CTO seasoned executive and high-tech entrepreneur, he combines practical industry experience with deep academic research.
Read more »
ChatGPT Speak-First Incident Stirs Worries That Generative AI Is Getting Too Big For Its BritchesDr. Lance B. Eliot is a world-renowned expert on Artificial Intelligence (AI) with over 7.8+ million amassed views of his AI columns and been featured on CBS 60 Minutes. As a CIO/CTO seasoned executive and high-tech entrepreneur, he combines practical industry experience with deep academic research.
Read more »
ChatGPT maker Open AI raises $6.6 billion in venture capital fundingOpenAI says it has raised $6.6 billion in venture capital investments as part of a broader shift by the ChatGPT maker away from its nonprofit roots. Led by venture capital firm Thrive Capital, the funding round is backed by tech giants Microsoft, Nvidia and SoftBank.
Read more »
California Coastal Cleanup Day marks 40 years with events across Bay AreaEvery September, thousands of Californians gather on a single Saturday along beaches, shorelines and inland waterways with one simple task: pick up trash before it becomes part of the fragile coastal ecosystem.
Read more »