Funding for European artificial intelligence startups, while still less than a quarter of U.S. figures, hit a record high this year thanks to massive investments in new entrants building chatbots and self-driving cars.
AI companies in Europe have raised $10.7 billion this year through September 30, according to a report from venture capital firm Atomico. This is a 52% jump from 2023, driven by large funding rounds from France’s Mistral, a competitor to OpenAI, and Wayve Technologies Ltd., an autonomous driving company in the United Kingdom. United. Investors have poured $47.2 billion into U.S. AI startups this year, according to the report.