AI startups hit a new high, raising $5.7B in Q1 2024, a 40% increase from last year, signaling a strong interest from venture capital in AI innovation. After a successful $25.5 billion fundraising campaign the year before, venture capital investors
Raising its assets to $425 million, Hack VC successfully closes $150 million for its Venture Fund 1, focusing on web3 and AI firms in their early stages. The fund intends to invest in web3-AI integration, security, and DeFi. According to
Microsoft, along with other tech giants such as Google and Amazon, has emerged as a leading force in funding AI startups in 2023, marking a notable change in the AI sector. According to PitchBook data, these companies have played a
While Europe still lags North America by ten to one in dollars invested in artificial intelligence startups, the European AI startup ecosystem is gaining traction, with a number of countries emerging as leaders in the field. US-based startups have received
File hosting services provider Dropbox has launched a $50 million venture fund for AI-focused startups, joining a host of companies that are investing in budding enterprises within the AI industry. This follows the ballooning of the generative AI sector, which
The EU Parliament passed the much-awaited AI Act last week, making it the first major jurisdiction in the world to introduce comprehensive rules for the sector, but compliance could prove tough for startup companies new to regulation. While aspects of
The European Commission is launching a one-stop shop, granting startups easier access to AI-dedicated supercomputers and boosting AI development. Technologies related to artificial intelligence (AI) are regarded as a crucial strategic domain for the bloc’s future competitiveness. Generative AI models
Spain’s AI and digitalization minister, Carme Artigas, has urged European startup founders to be “very calm” about the EU’s impending legislation to regulate artificial intelligence. The draft AI Act aims to restrict the use of AI systems that are considered
African technology startups are cozying up to AI. The technology brought to the fore by the introduction of ChatGPT last year is trending around the world. In parts of Africa – a continent that often lags behind everyone else in
The chief AI officer (CAIO) is fast gaining traction as an important leadership role for companies integrating artificial intelligence to optimize their operations. The position is a new addition to the C-suite. According to social network LinkedIn, the number of
Chinese tech startup Stardust Intelligence released a new robot called Astribot S1 that uses AI to complete delicate household chores such as folding clothes and making a sandwich with human-like dexterity. The AI robot learns by imitating humans and can
Saudi Arabia plans a $40B AI investment, potentially becoming the industry’s largest investor, with talks of a partnership with a16z. According to reports, in recent weeks, representatives of Saudi Arabia’s Public Investment Fund (PIF) have talked about a possible collaboration
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