CNBC October 16, 2024
Key Points
– Venture funding for cloud startups in the U.S., Europe and Israel this year is projected to rise 27% year-over-year, increasing for the first time in three years, according to a report from VC firm Accel.
– Out of the $79.2 billion total raised by cloud firms, 40% of all funding went to generative AI startups, Accel said.
– “AI is sucking the air out of the room” when it comes to cloud, Philippe Botteri, partner at Accel, told CNBC an interview this week.
Generative artificial intelligence startups are getting 40% of all the venture capital funding that flows into cloud companies, according to venture investors Accel.
In its latest annual Euroscape report, which looks at key cloud...
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