State of AI Q1’24 Report

State of AI Global | Q1 2024 Global data and analysis on dealmaking, funding,and exits by private market ai companies Makesmartertech decisions. Our platform will help youdiscover, understand, andmanageyour response to emerging tech. Make confidenttech decisions that drive growth, improve operations, andbeat the competition with CB Insights. ▮▮▮▮IIIITry our platform–free!Sign up for a free trial TLDRState of AI Your rundown onAIin Q1’24 $23.1M $13.1B -36% 52% 6 Global AI fundingin Q1’24. AI unicorn birthsin Q1’24. Increase in US AIfundingQoQ. Decrease in AIM&A exits. Average deal sizein 2024 so far, up21% from 2023. AI unicorn births (privatecompanies reaching $1B+valuations) remainedsteady at 6QoQin Q1’24.Three of these newunicorns are generative AImodel developers:Moonshot AI, Together AI,andKrutrimall reached$1B+ valuations in Q1’24.See the data→ Global AI fundingincreased 24%QoQtoreach $13.1B—its highestquarterly level since Q1’23.This outpaced the growthin broader venture funding(+11%). There were 69 M&A dealsfor AI companies in Q1’24,marking a36% decreasefrom Q4’23. Funding to US-based AIstartups climbed by 52%QoQto hit $9.3B in Q1’24. At $23.1M in 2024 YTD,average AI deal size is up21% vs. $19.1M in full-year2023. Asia was the only othermajor global region to seea funding increase (+6%) inQ1’24. Amid the downturn, Europesaw its share of broaderglobal exits rise by 12percentage pointsQoQ,while Asia experienced a15-point drop. Meanwhile,the US’ share remainedsteady at 41%. A couple of generative AIinfrastructure players havehad an outsized impact onthis upward trend, raisingmassive $1B+ deals:Anthropic ($2.8B Series D)and Moonshot AI ($1BSeries B). Meanwhile, AI dealsslipped for the fourthconsecutive quarter,hittingtheirlowestquarterly countsince 2018 (739 deals). Funding totals for bothregions were heavilybuoyed by the $1B+ roundstogenAIinfrastructurestartups Anthropic (US)and Moonshot AI(China). See the data→ See the data→ See the data→ See the data→ ContentsState of AI Europe91United Kingdom97Germany101France105 Global Trends Investment Trends6Unicorns29Exit Trends35Investors40 Geographic Trends44 US45Silicon Valley51New York55Los Angeles59Boston63Philadelphia67Canada71Asia77China83Japan87 Global Trends Investment Trends State of AI|Global Trends|Investment Trends Annual equity funding & deals State of AI|Global Trends|Investment Trends Quarterly equity funding & deals State of AI|Global Trends|Investment Trends Percent of quarterly deals by global region State of AI|Global Trends|Investment Trends Percent of quarterly deals by investor group State of AI|Global Trends|Investment Trends Annual average & median deal size State of AI|Global Trends|Investment Trends Annual median deal size by global region State of AI|Global Trends|Investment Trends Annual median deal size by investor group State of AI|Global Trends|Investment Trends Quarterly funding & deals from mega-rounds (deals worth $100m+) State of AI|Global Trends|Investment Trends State of AI|Global Trends|Investment Trends Quarterly mega-round deals by global region State of AI|Global Trends|Investment Trends Quarterly mega-rounds as percent of funding State of AI|Global Trends|Investment Trends Annual percent of deals by deal stage State of AI|Global Trends|Investment Trends Regional deal share by deal stage in Q1’24 State of AI|Global Trends|Investment Trends Annual median funding by deal stage Global: Top Series A deals in Q1’24 Global: Top Series C deals in Q1’24 Global: Top Series E+ deals in Q1’24 Unicorns State of AI|Global Trends|Unicorns State of AI|Global Trends|Unicorns State of AI|Global Trends|Unicorns Quarterly new unicorns by global region State of AI|Global Trends|Unicorns Global: Top unicorn births in Q1’24 State of AI|Global Trends|Unicorns Exit Trends Quarterly exits State of AI|Global Trends|Exit Trends Percent of quarterly exits by global region State of AI|Global Trends|Exit Trends Global: Top M&A exits in Q1’24 State of AI|Global Trends|Exit Trends Global: Top IPOs in Q1’24 Investors State of AI|Global Trends|Investors State of AI|Global Trends|Investors Global: Top VCs by company count in Q1’24 State of AI|Global Trends|Investors Geographic Trends US Trends Quarterly funding & deals State of AI|Geographic Trends|US Trends Annual percent of deals by deal stage Quarterly exits State of AI|Geographic Trends|US Trends Silicon Valley Quarterly funding & deals State of AI|Geographic Trends|Silicon Valley Annual percent of deals by deal stage New York Quarterly funding & deals State of AI|Geographic Trends|New York Annual percent of deals by deal stage New York: Top equity deals in Q1’24 Los Angeles Quarterly funding & deals State of AI|Geographic Trends|Los Angeles Annual percent of deals by deal stage Boston State of AI|Geographic Trends|Boston Quarterly funding & deals State of AI|Geographic Trends|Boston Annua