(AsianFin)—In an announcement on Friday, Sequoia Capital unveiled the list of the top 50 AI companies for 2024, featuring big names such as ChatGPT from OpenAI, Claude from Anthropic, Notion, and Pika, among others.
Although China boasts over 300 AI companies focused on large-scale models and tens of thousands involved in the AI ecosystem, none made it to the list.
In 2023, a substantial portion of venture capital funding in the U.S. AI sector was directed towards infrastructure development, with 60% allocated to large model (LLM) providers. However, there has been a noticeable shift in 2024, with significant productivity enhancements in AI benefiting both corporate clients and consumers.
OpenAI CEO Sam Altman has hosted hundreds of Fortune 500 company executives in San Francisco, New York and London this month where he and other OpenAI executives pitched AI services for corporate use, going head to head in some cases with financial backer Microsoft.
Additionally, Apple is nearing the production of next generation M4 computer processors and plans to update every Mac model with it, Bloomberg reported, citing people with knowledge of the matter. The company is aiming to release the updated computers beginning late this year and extending into early next year, the report said.
Many companies are now leveraging AI technology to streamline their operations and expedite key performance indicators (KPIs). For example, ServiceNow achieved nearly a 20% case avoidance rate through AI-driven Now Assist, and Swedish fintech firm Klarna reported over $40 million in operational cost savings by integrating AI into their customer support processes.
Ark Investment Management, led by Cathie Wood, has revealed its latest strategic move to invest in OpenAI last Thursday.
In a communication addressed to clients, Ark disclosed: “As of April 10, 2024, the Ark Venture Fund has initiated a position in OpenAI,” referencing its $54 million VC fund. The note further elaborated on OpenAI’s pivotal role in what Ark describes as a “Cambrian explosion” in AI capabilities.
Prior to this investment, Ark Investment missed out on capitalizing on the AI boom, having prematurely divested from Nvidia, missing out on its subsequent stock price surge of 500% since 2023.
Ark Venture Fund, with a sizable scale of around $540 million, primarily focuses on private company investments, with approximately 4% of its holdings allocated to OpenAI. Additionally, Ark Investment holds shares in Anthropic, one of OpenAI's formidable competitors, further solidifying its position in the AI market.
RealAI, an AI security infrastructure provider, announced the completion of a new round of strategic financing on last Friday, with participation from the Beijing Municipal Artificial Intelligence Industry Investment Fund and other investors.
This funding round is poised to bolster RealAI's efforts in advancing its general AI security base and furthering the commercialization of large models.
Founded in July 2018, RealAI leverages the expertise of the Tsinghua University Institute of Artificial Intelligence to drive innovation in safe, reliable, and controllable third-generation AI technology.
With a focus on commercialization, RealAI has successfully deployed its industry solutions across infrastructure, government, finance, and other sectors, serving numerous national ministries, top enterprises, and policy initiatives in Beijing.
As RealAI continues to forge ahead in advancing AI security infrastructure, its strategic financing underscores the growing support for AI initiatives, both domestically and internationally.