Top 10 highest-funded AI companies in 2024

Artificial intelligence (AI) continues to attract significant investment, with companies in the sector raising substantial funds to drive innovation and expand their reach.

According to the report by WriterBuddy, the top 50 AI companies raised a total of $52.8 billion as of 2024, reflecting a 600% increase compared to 2020, with $20.7 billion raised in 2023 alone. The collective valuation of these companies stands at $358.37 billion, showcasing strong market confidence in the AI sector. AI Infrastructure and Models emerged as the most funded sector, attracting $35.5 billion, or 67% of the total funding, followed by Data and Analytics ($5.9 billion) and Defence and Security ($3.8 billion).

Geographically, U.S.-based companies dominated, securing $49.4 billion, representing 94% of the total funding, with California leading as the primary AI hub, attracting $47.9 billion. France followed distantly, with $1.3 billion raised by its AI startups. The influence of former Google employees was significant, with 14 companies founded by ex-Google staff raising $14.7 billion—28% of the total funding—while their combined valuation reached $71.61 billion.

The most funded startups include OpenAI with $21.9 billion, Anthropic with $9.7 billion, and Databricks with $4 billion. Among the top 50 companies, 29 have achieved unicorn status, with OpenAI valued at $157 billion, Databricks at $43 billion, and Anthropic at $40 billion. Notable leaders in the AI space include Sam Altman of OpenAI, Ali Ghodsi of Databricks, and Dario Amodei of Anthropic, each playing a pivotal role in shaping the industry’s future.

Here are the top 10 highest-funded AI companies in 2024

1. OpenAI

OpenAI leads the global AI funding landscape, with a total of $21.9 billion secured to date. In 2024, it raised $10.6 billion, underscoring the global interest in generative AI and its applications. OpenAI’s ability to secure nearly half of the funding among the top 10 companies demonstrates its central role in advancing AI technologies.

2. Anthropic

Anthropic, established in 2020, has rapidly grown to become one of the most well-funded AI startups, securing $9.7 billion overall. In 2024 alone, the company raised $2.1 billion. Known for its focus on AI safety and alignment, Anthropic continues to attract investors confident in its long-term potential.

3. Databricks

Databricks, founded in 2013, has accumulated $4.0 billion in funding. Although funding momentum has slowed since 2021, when it raised $2.6 billion, the company remains a leader in AI-driven data analytics and cloud computing. Its maturing stage reflects its position as a key player in data and AI infrastructure.

4. Anduril Industries

Anduril Industries, focused on AI applications in defence and security, has raised $3.7 billion in total. The company secured $1.5 billion in both 2023 and 2024, reflecting consistent investor trust in its technologies, which include surveillance systems and autonomous solutions for national security.

5. Scale AI

Scale AI has raised $1.6 billion to date, with $1.0 billion secured in 2024. The company plays a critical role in providing scalable and reliable datasets for AI training, addressing a growing demand for high-quality data to power machine learning models.

6. Mistral AI

Founded in 2023, Mistral AI has quickly made its mark, raising $1.2 billion in funding. The company’s focus on generative AI and large models positions it as a strong contender in the competitive AI landscape.

7. Cohere

Cohere has raised $942.9 million in total, with a notable $500 million funding round in 2024. Specialising in language models, Cohere aims to rival established players like OpenAI by providing advanced AI infrastructure.

8. Perplexity AI

Perplexity AI has emerged as a significant player, securing $915 million in funding, including $886 million raised in 2024. The company focuses on advancing search engine technologies and conversational AI, addressing key gaps in the evolving AI market.

9. Figure AI

Figure AI has secured $854 million in funding, with $675 million raised in 2024. The company’s work in robotics powered by AI is gaining traction, signalling growing investor confidence in automation and AI-driven systems.

10. Cerebras Systems

Cerebras Systems, which focuses on AI hardware for deep learning, has raised $715 million to date. The company’s innovative hardware solutions are vital for enhancing AI model performance and supporting the training of large-scale models, making it an essential player in the AI ecosystem.

Chisom Michael

Chisom Michael is a data analyst (audience engagement) and writer at BusinessDay, with diverse experience in the media industry. He holds a BSc in Industrial Physics from Imo State University and an MEng in Computer Science and Technology from Liaoning Univerisity of Technology China. He specialises in listicle writing, profiles and leveraging his skills in audience engagement analysis and data-driven insights to create compelling content that resonates with readers.

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