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Despite challenges in venture capital funding, AI continues to attract significant investments in Europe. In 2024, Europe has recorded 14 AI investments exceeding $100 million, showcasing a robust interest in the sector. Major players like Mistral AI and Wayve are leading the charge, with substantial funding rounds that highlight the growing importance of AI technologies.
The article outlines the reasons behind the surge in AI investments, including the immense compute power required for AI models and the race for talent among startups. Companies like Wayve and Mistral are not only innovating in their respective fields but also attracting attention from major investors, indicating a promising future for AI development in Europe.
• Europe has seen 14 AI investments over $100 million in 2024.
• Mistral AI raised over $1 billion, leading AI funding in Europe.
Mistral AI is a key player in developing large language models, which are foundational for generative AI applications.
Companies like Mistral are building LLMs to enhance various applications, showcasing their significance in the AI landscape.
Wayve is raising significant funds to advance its autonomous driving capabilities, positioning itself against major automotive players.
The company raised $1.05 billion to enhance its AI technology for various car manufacturers.
It has raised over $1 billion in funding, making it a leading player in the European AI market.
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
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