VCs Plowed a Record $9.3 Billion Into AI Startups Last Year
- AI companies raised 72% more in 2018 than in the previous year
- Deal volume fell as VCs gave more cash to fewer startups
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Artificial intelligence was a no-brainer bet for humans in 2018. Venture capital funding of AI companies soared 72 percent last year, hitting a record $9.3 billion, according to a new report from PwC and CB Insights.
The surge comes after three years of steadily increasing investment, with the average annual increase from 2015 to 2017 at 28 percent. The recent boost partly reflects the frothy funding environment overall: venture investing in the U.S. hit $99.5 billion in 2018, the highest level since 2000.