In the wake of the stunning ChatGPT success in 2023, investments in generative AI have soared with some companies raking in billions.
According to Crunchbase data, AI-related startups raised nearly $50 billion in 2023.
- After the groundbreaking $10 billion to OpenAI last year, Microsoft has just announced a deal with Inflection AI which had been valued at $4 billion. It paid $620 million to use Inflection’s models and hire most of the startup’s staff including its co-founders.
- Last week, Amazon announced its largest venture investment yet: it’ll spend an additional $2.75 billion backing San Francisco-based Anthropic, adding to its initial $1.25 billion check.
- Google is in talks with chatbot startup Character.AI, which was founded by two former employees. This article suggests that the deal is around $200 million
-
Data labeling startup Scale AI “nears $13 billion valuation” in a round led by Accel.
- AI is reported to be driving record sales at San Francisco-based Databricks.
- And, topping the list of recent large raises, Santa Clara-based optical interconnectivity startup Celestial AI raised a massive $175 million Series C.
Securities exchanges across the globe recorded their “best first-quarter performance in five years”.
Chip designer NVIDIA alone added $1 trillion in market value over that period.
While the U.S., China and the EU are pouring substantial resources into AI development, Latin American is falling behind.
Between 2010 and 2021, combined investment in AI in all Latin American countries did not surpass 1.7% of the amount invested by the U.S., or 5% of China’s total.
According to U.N Digital Development Observatory LatAm and the Caribbean represent 2.84% of the world’s AI companies. Brazil leads the region with 163 AI companies.
Although Brazil’s digital infrastructure remains a challenge, IDC estimates that the Brazilian ICT market will grow 5.2% in 2024 and spending in genAI will more than double.
That brings boundless opportunities for the region’s entrepreneurial community.
Following the success of our program in 2023, BayBrazil AI dialogue is back!
On April 7th we’ll resume last year’s conversation and explore the advancement of artificial intelligence and its ongoing impact on business.
We’ll gather startup founders, investors and executives based in Brazil, the San Francisco Bay Area and other U.S. regions for a series of face-to-face meetings with local Silicon Valley thought leaders, VPs of product, AI creators, influencers who are part of BayBrazil’s tech hub.
Together we’ll discuss use cases, tools and challenges of AI implementation and the vast potential of generative AI and large language models (LLMs) in reshaping how we interact, work, invest and do business.
When: 2024 1st meeting: April 7th, other meetings to be scheduled in Q3 and Q4
Location: Silicon Valley
Attendance in all events will be by invitation-only. If you wish to attend it, apply here.
A big thanks to our partners for supporting this dialogue!
