Q1 2024 saw a 25% drop from Q1 2023, largely due to smaller transaction sizes in 2024. This represents a strategic shift towards more focused and efficient investments. Smaller rounds enable investors to diversify their portfolios, supporting a wider range of AI projects and spreading risk. This trend is reflected by key deals from the last year. In January 2023, OpenAI secured a $10 billion round from Microsoft, marking one of the largest venture capital rounds in AI history. China-based Moonshot AI was the only company to raise $1 billion or more in Q1 2024, in a round led by Alibaba and HongShan Group. Figure secured $675 million in a round led by Explore Investments and Nvidia, making it the second-largest round of the quarter. These deals highlight the ongoing commitment to AI advancements and large-scale funding in key markets — especially among the largest competitors — despite smallertransaction sizes. Strategic Refinement: Optimizing AI VC Rounds from 2023
Date Announced
Amount (Million)
Company
Lead Investors
Mar-2024
$600
Feb-2024
$675
Feb-2024
$1,000
Jan-2023
$10,000
Source: CapIQ, Pitchbook, Trade.gov
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