AI deals lift US VC funding to highest level in two years

The latest figure shows a 47% jump from the US$37.8bil US startups raised in the first quarter. — Reuters

NEW YORK: US venture capital (VC) funding surged to US$55.6bil in the second quarter, marking the highest quarterly total in two years, according to PitchBook data.

The latest figure shows a 47% jump from the US$37.8bil US startups raised in the first quarter, largely driven by significant investments in artificial-intelligence (AI) companies, including US$6bil raised by Elon Musk’s xAI and US$1.1bil raised by CoreWeave.