2024-09-29-PitchBook-2024年二季度人工智能与机器学习报告（英）_12页_12mb

AI & Machine Learning Report Summary - Q2 2024

Core Content Overview

This report provides a detailed analysis of the AI & Machine Learning (AI & ML) venture capital (VC) ecosystem in Q2 2024, highlighting key trends, deal activity, and notable companies. The data is sourced from PitchBook and reflects global market dynamics as of June 30, 2024.

Main Trends and Highlights

VC Deal Activity

• Total deals: 2,039

• Total VC raised: $30.8 billion

• Deal value growth QoQ: 32.8%

• YTD (2024): 4,117 total deals, $54.0 billion raised, with a -5.2% YoY growth in deal value

• Notable Deals:

  • xAI: Raised $6.0 billion in a Series B round, led by Andreessen Horowitz, Sequoia Capital, and Valor Equity Partners. This is the largest deal of the quarter and includes solely financial VC investors.
  • Mistral AI: Raised $650.6 million in a Series B round, led by DST Global and General Catalyst.
  • CoreWeave: Raised $1.1 billion in a Series F round, led by Coatue Management and Magnetar Capital.
  • Wayve: Raised $1.05 billion in a Series C round, led by Eclipse Ventures, NVIDIA, and SoftBank Group.
  • Scale AI: Raised $999.6 million in a Series F round with Amazon and Meta.
  • Xaira Therapeutics: Raised $1.0 billion in a Series A round, led by ARCH Venture Partners and Foresite Labs.
  • Ramp: Raised $150 million in a Series C round, led by 8VC, Greylock, Khosla Ventures, and Sequoia Capital.

VC Exit Activity

• Exit value: $11.5 billion, the highest since Q2 2022
• Notable Acquisitions:
  • Tempus AI: Listed publicly at $5.7 billion, with a 10.9x EV/revenue multiple
  • NVIDIA: Acquired Run:ai (not included in the total due to regulatory delay) and Deci
  • AMD: Acquired Fireworks AI and Silo AI for a combined $717.0 million
  • Hyundai: Acquired Motional for $923.0 million
  • JFrog: Acquired Qwak for $230.0 million

Valuation Trends

• Early-stage median pre-money valuation: $28.2 million
• Late-stage median pre-money valuation: $50.0 million
• Despite the downturn, valuations for successful startups continue to rise.

Key Companies Highlighted

Anthropic

• Overview: Anthropic launched Claude 3.5 Sonnet, the first model in the Claude 3.5 series, which outperforms competitors like Gemini 1.5 Pro and Chat-GPT 4o in benchmarking metrics such as reasoning and code generation.
• New Features:
  • Artifacts: A UI feature that allows users to edit and run code in a dedicated window.
  • Prompt generation and testing: Enhances model output customization for business needs.
• Competitive Landscape:
  • Anthropic has partnered with AWS to gain a significant enterprise customer base.
  • It is positioned as a complement to OpenAI, particularly due to AWS not supporting OpenAI.
• Leadership:
  • Several former OpenAI employees joined Anthropic, including Jan Leike (Superalignment team) and John Schulman (post-training team), highlighting the company's focus on model safety.
• Financing History:
  • Series A (2021): $124.0 million raised, pre-money valuation $426.0 million
  • Series B (2022): $580.0 million raised, pre-money valuation $2.4 billion
  • Series C (2023): $450.0 million raised, pre-money valuation $4.1 billion
  • Series D1 (2023): $2.0 billion raised, pre-money valuation $12.8 billion
  • Series D (2024): $4.0 billion raised, pre-money valuation $14.9 billion
  • Lead Investors: Alphabet, Amazon, 7GC & Co., SquareOne Capital, Salesforce Ventures, Zoom Ventures, Spark Capital, etc.

Innovation Spotlights

• Code Retrieval: Enhanced capabilities for retrieving and executing code.
• GenAI for Banking: Applications of generative AI in financial services.
• Sovereign AI: Focus on AI technologies with national security and regulatory compliance considerations.

Conclusion

The Q2 2024 AI & ML VC landscape shows resilience and growth, with significant deal activity and rising valuations. Anthropic remains a key player, leveraging its latest model and strategic partnerships to compete in the foundation model space. The report also highlights the increasing role of M&A in the sector, with major acquisitions by NVIDIA, AMD, and other industry leaders. Overall, the ecosystem is dynamic, with both early and late-stage companies attracting substantial investment.