From TechCrunch
By Kyle Wiggers
November 7, 2023
The mass move to digital during the pandemic and the embrace of generative AI accelerated cloud adoption, and trend hasn’t reversed — on the contrary. Gartner estimates that, in 2023, global end-user spending on public clouds will reach over $599 billion, up from $421 billion in 2021 and nearly $500 billion in 2022. Not every enterprise […]
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Generative AI funding reached new heights in 2024
If there was any doubt, the generative AI bubble did not burst in 2024. Investments in generative AI, which encompasses a range of AI-powered apps, tools, and services to generate text, images, videos, speech, music, and more, reached new heights last year. According to data from financial tracker PitchBook compiled for TechCrunch, generative AI companies worldwide raised $56 billion from VCs in 2024 across 885 deals. That raw cash total is a new record for the segment. It’s up 192% from 2023
Jan 3, 2025
CoreWeave, which provides cloud infrastructure for AI training, secures $2.3B loan
As organizations rush to embrace AI, it’s putting the cloud — or clouds, rather — under strain. Amazon Web Services, Microsoft, Google and Oracle, facing an unprecedented spike in demand for the server chips that train and run AI-powered software, are limiting their availability for customers. Microsoft has been particularly candid about its struggles, warning […]
Aug 3, 2023
Investments in generative AI startups topped $3.9B in Q3 2024
Not everyone is convinced of generative AI’s return on investment. But many investors are, judging by the latest figures from funding tracker PitchBook. In Q3 2024, VCs invested $3.9 billion in generative AI startups across 206 deals, per PitchBook. (That’s not counting OpenAI‘s $6.6 billion round.) And $2.9 billion of that funding went to U.S.-based companies across 127 deals. Some of the biggest winners in Q3 were coding assistant Magic ($320 million in August), enterprise search provider Gle
Oct 20, 2024
PointFive snaps up M for breakthrough tech to track usage across multiple clouds
Enterprise spending on cloud services continues to go up, up, up — to the tune of $675 billion this year — thanks to organizations’ firm embrace of software-as-a-service, the popularity of distributed working, and the arrival of compute-intensive tech like AI. A startup called PointFive believes it has found a better way to get a grip on that usage, and on Tuesday it announced $20 million in funding from an impressive list of backers to help it square up to the market. New investor Salesforce V
Nov 12, 2024