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Q2 2024
Artificial Intelligence & Machine Learning Report
September 19, 2024
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AI cracks the code
A temporary calm in technological disruption isn’t stopping AI code generation startups. The segment has become generative AI’s best-funded use case, raising $1 billion across 18 deals in the first half of 2024, according to PitchBook’s latest Emerging Tech Research.
The Q2 2024 AI & ML Report spotlights the segments that continue to propel the vertical forward, like banking and code generation. Megadeals like xAI’s $6 billion Series B helped keep the momentum going as deal value surged in Q2 with $30.8 billion in VC funding generated, an increase of 32.8% over Q1.
While the biggest model developers may be teasing more breakthroughs ahead, the report explores the areas where AI is already having a transformative impact.
Table of contents
AI cracks the code
A temporary calm in technological disruption isn’t stopping AI code generation startups. The segment has become generative AI’s best-funded use case, raising $1 billion across 18 deals in the first half of 2024, according to PitchBook’s latest Emerging Tech Research.
The Q2 2024 AI & ML Report spotlights the segments that continue to propel the vertical forward, like banking and code generation. Megadeals like xAI’s $6 billion Series B helped keep the momentum going as deal value surged in Q2 with $30.8 billion in VC funding generated, an increase of 32.8% over Q1.
While the biggest model developers may be teasing more breakthroughs ahead, the report explores the areas where AI is already having a transformative impact.
Table of contents
| Vertical update | 3 |
| Q2 2024 timeline | 4 |
| AI & ML landscape | 5 |
| AI & ML VC ecosystem market map | 6 |
| VC activity | 7 |
| Innovation spotlights | 14 |
| Code retrieval | 15 |
| GenAI for banking | 18 |
| Sovereign AI | 20 |
| Select company highlights | 22 |
| Anthropic | 23 |
| Databricks | 26 |