Elon Musk's xAI Recorded Largest Venture Capital Deal in 2024 So Far 💸
What We're Showing
The 11 largest U.S. venture funding deals as of August 19, 2024, including the company, industry, amount raised, and a select number of lead investors.
Data comes from Crunchbase.
VCs Bet Big On AI
Four of the largest venture capital funding rounds so far this year went into artificial intelligence (AI) companies. Autonomous driving, which relies heavily on AI technology, was the second most common industry.
Elon Musk's xAI, which released the latest version of its language model Grok-2 on August 13, 2024, raised $6 billion in its Series B round from investors including Andreessen Horowitz (a16z), Sequoia Capital, Fidelity Management & Research Company, and Saudi Arabian billionaire Al Waleed bin Talal Al Saud, among others.
Anthropic is another prominent player in the generative AI space, alongside Google, OpenAI, Meta, and xAI.
Its $740 million funding from Menlo Ventures led the AI startup to haul in $7.3 billion in just one year. In March, the company announced its new Claude 3 model family, which can analyze a variety of file types like PDFs, images, and CSVs–just like OpenAI's GPT-4.