PitchBook-2023年一季度人工智能与机器学习报告（英）-2023-10页_13mb

Q1 2023 Artificial Intelligence & Machine Learning Market Summary

Investment Activity

• Record Investment: V.C. investment in the AI & ML sector hit $22.7 billion in Q1 2023.

• Major Component:

  • Generative AI: A significant portion ($12.7B) was allocated to generative AI companies, primarily driven by massive investment from Microsoft into OpenAI ($10 billion).
  • Excluding OpenAI: If OpenAI's deal is excluded, both deal value and the number of AI & ML transactions declined significantly compared to Q1 2022.

• Declining Vertical Applications: Traditional vertical application companies raised significantly less capital ($6.0B).

Fundamental Shift in Interest

• Focus on Generative AI: Interest and investment primarily drive by the transformative potential, market interest, and level of computing power/talent needed for generative AI breakthroughs.
• Valuation Multiples: Generative AI research startups command outstanding valuation multiples ($B), reflecting strong demand and growth potential.
• Supporting Infrastructure: VCs are adapting to the demand for large-scale computing infrastructure to support generative AI advancements.

Acquisition Trend Emerging

• Tech Giants Act: Microsoft's investment deal with OpenAI bears similarities to an acquisition structure.
• Recent Additions: Companies like Snowflake (acquired Neeva) and Databricks (acquired Rubicon and MosaicML) are acquiring complementary AI startups.
• Values: While acquisition activity increased in Q1 compared to 2022's levels, disclosed deal values were low ($3.3B) compared to $48.7 billion in 2022.
• Acquirer Profile: Large technology corporations remain the primary strategic acquirers.

Summary by Quarter

Select Company Highlights (Databricks)

• Overview: Provides a unified data analytics platform with AI-as-a-Service (AIaaS). Supports data engineering, warehousing, and ML. Recently leveraged unified platform with custom LLM (Dolly), acquiring infrastructure companies to enhance capabilities.
• Business Profile: 2013 founding, ~38B valuation February 2023.
• Competitors: Stands out due to ML operations (MLOps) support, distinct from legacy vendors, more oriented towards AI than pure data warehouses like Snowflake.
• Financials: Demonstrated high revenue growth (revenue ~$1B+, CAGR ~60% prior to IPO talks).
• Financing: Secured significant funding rounds prior to its potential public offering. Financial terms reflect resilience in the market.

Report Context

• Data sourced from PitchBook (Note: Figures based on As-Of date March 31, 2023 in sections discussing VC activity value and count).
• Confidential document by PitchBook.
• Prepared by analysts Chloe Ladwig and Julia Midkiff on June 29, 2023.
• Contact information provided for analysts and PitchBook.