In Q3 2024, venture capitalists invested a remarkable $3.9 billion in generative AI startups, according to PitchBook. This funding was distributed across 206 deals, predominantly benefiting U.S.-based companies. Major investments included $320 million for Magic and $260 million for Glean. Despite skepticism surrounding generative AI’s reliability and legality, investor confidence remains strong. Analysts predict that generative AI will drive significant advancements in various industries, although its high power demands pose environmental challenges. The trend suggests ongoing investment in this tech frontier, with many startups seeking substantial funding.