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Investments in generative AI startups topped $3.9B in Q3 2024
VCs continue to show great enthusiasm for generative AI startups, data from funding database Pitchbook shows.
But VCs are effectively placing bets that generative AI will gain a foothold in large and profitable industries and that its long-tail growth won’t be impacted by the challenges it faces today. “Large customers are rolling out production systems that take advantage of startup tooling and open source models,” Brendan Burke, senior analyst of emerging tech at PitchBook, told TechCrunch in an interview. Several of the world’s largest data center operators, including Microsoft, Amazon, Google, and Oracle, have announced investments in nuclear to offset their increasing nonrenewable energy draws.
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