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📈AI Funding Figures for 2024 Are Here.

Plus: Will OpenAI Go Open Source?

Yaro Celis

Feb 3

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The latest 2024 AI investment figures are in, and the growth shows no signs of slowing. With increasingly powerful yet cost-efficient models being deployed, the AI landscape is undergoing rapid transformation. OpenAI is even considering the possibility of launching an open-source model—a move that could disrupt the field further. Meanwhile, AI is driving breakthroughs in materials science, paving the way for innovations that could revolutionize transportation and construction. Let’s dive into the details!

Will OpenAI Go Open Source?
AI Funding Figures for 2024 Are Here.
What to Expect for AI in 2025.
OpenAI Launches Free o3-Mini Model.
🧰 AI Tools
📰 News and Trends.

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Will OpenAI Go Open Source?

OpenAI CEO Sam Altman is considering making some of the company's AI models open-source, following the rise of China’s open-source AI leader, DeepSeek. Altman admitted OpenAI may have been "on the wrong side of history" regarding open-source strategies. However, this shift is not the company’s top priority, and internal disagreements remain. DeepSeek’s success, driven by its low-cost, open-source model, threatens traditional AI companies, including OpenAI. While critics accuse Altman of abandoning OpenAI's original mission, OpenAI may still monetize premium versions of ChatGPT while offering open-source options to remain competitive. The move could impact its ongoing $40B funding efforts, which lead us to believe that it may not happen.

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AI Funding Figures for 2024 Are Here.

Massive Funding, Unicorn Growth, and Global Expansion.

2024 marked a turning point for AI according to CB Insights, with private AI companies raising a record $100.4B in venture funding. Here’s a snapshot of the year’s major trends:

Massive Deals Propel AI Funding: $100.4B in funding, with mega-rounds ($100M+ deals) comprising 69% of total investment and 80% of Q4’s $43.8B surge.
Shift to Infrastructure and Horizontal AI: Investors prioritized AI infrastructure over sector-specific applications like fintech and health tech, as horizontal AI gained prominence.
Global Expansion: While US companies dominated funding (76%), Europe and Israel emerged as strong AI hubs. Early-stage deals accounted for 81% of European activity.
M&A Activity Booms: With 384 exits, 2024 nearly matched 2023’s record 397 deals. Over a third of acquisitions were Europe-based, led by UK startups.
AI Unicorns Thrive: 32 new AI unicorns emerged, nearly half of all new unicorns in 2024. Many are still in early stages, reflecting AI’s hype-driven valuations.
Tech Giants Invest Heavily: Google, Nvidia, Microsoft, and Qualcomm led corporate VC activity, securing access to innovative AI startups and offering essential infrastructure.

What to Expect for AI in 2025:

No one knows for sure as the space continues to grow exponentially and models like DeepSeek can change the course of the industry in a matter of hours, but this is what we may see:

Continued Mega-Rounds and Billion-Dollar Funding
Large funding rounds may remain prominent as AI infrastructure players and model developers (like OpenAI and Anthropic) require massive capital to scale frontier models. Expect AI funding to cross new milestones.
Expansion of AI M&A Activity
AI-related acquisitions are likely to surpass 2024’s numbers, driven by major tech firms embedding AI deeper into their product offerings. Europe’s AI startups, especially in the UK and Germany, could remain prime acquisition targets.
More AI Unicorns with Rapid Valuations
Expect a wave of new AI unicorns, but with many still in early stages of revenue generation. As the hype continues, valuations may rise faster than commercial maturity, making profitability a key challenge.
Breakthroughs in AI-Enabled Industries
While infrastructure will dominate funding, AI applications in energy, climate tech, biotech, and transportation are set to grow. Investors will explore emerging fields where AI can solve large-scale challenges.
Generative AI Gets Specialized
We’ll see a shift from broad generative AI models to domain-specific models tailored for healthcare, finance, and media, creating opportunities for startups to carve out niche applications.
AI Regulation and Ethical Standards
With AI’s rapid adoption, governments worldwide, including the EU and the US, will push for more regulations around data privacy, AI bias, and transparency. Companies will need to adapt to evolving legal frameworks.
More Strategic Partnerships
Expect deeper collaborations between tech giants and startups. Companies like Nvidia, Google, and Microsoft will provide technical infrastructure (cloud computing, chips) in exchange for equity and long-term partnerships.
AI Talent Wars Intensify
The growing demand for high level AI engineers, data scientists, and researchers will spark fierce competition. Companies will invest heavily in retaining talent, driving up compensation packages and benefits, but we may see lower demand for low skill engineers as AI may replace them.
Emergence of AI in Hardware Innovation
As AI scales, expect advancements in custom AI chips, robotics, and edge computing devices, offering improved efficiency and speed for applications like autonomous vehicles and real-time data processing.

In short, 2025 may likely be marked by even greater investment, innovation, and challenges as AI cements itself across sectors and geographic regions.

📰 AI News and Trends

Scientists used artificial intelligence to design a foam-like material that is as strong as steel but as light as polystyrene (LiveScience)
OpenAI unveils a new ChatGPT agent for deep research (TC)
Meta Platforms CEO Mark Zuckerberg told employees Thursday that Meta sold more than one million of its Ray-Ban smart glasses in 2024 (TheInformation)

🌐 Other Tech news

Apple reportedly gives up on its AR video glasses project (TheVerge)
The Department of Government Efficiency gained access to the US federal payment system, allowing him to monitor and potentially control government spending (NYT)
Trump's new tariffs triggered a $369B crypto market drop, with Bitcoin down 4.4% and Ethereum 15%. $2.24B in liquidations occurred, mostly long positions (93.5%) (CT)
Stablecoins, now a $205 billion market, are gaining traction in emerging markets and could modernize outdated financial systems as adoption grows (TC)
Crypto exchange Kraken said its revenue last year more than doubled to $1.5 billion from $671 million in 2023 (TheInformation)
Meta in Talks to Reincorporate in Texas or Another State, Exit Delaware (WSJ)

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OpenAI Launches Free o3-Mini Model.

OpenAI has responded to the competitive pressure from China’s DeepSeek by launching o3-mini, a free, STEM-optimized AI model available to all users. The model is faster, more accurate, and more cost-efficient than its predecessor, o1-mini. With three reasoning levels, o3-mini allows users to balance speed and accuracy, achieving 39% fewer major errors and 24% faster response times compared to o1-mini.

An early search prototype lets the model find real-time answers with source links. The model is included in OpenAI’s paid tiers and available to free users through the ChatGPT interface. Despite its improvements, o3-mini underperforms in real-world ML research and automation tasks, scoring 0% on automating OpenAI research jobs. OpenAI highlights its rigorous data training and safety measures in the deployment process.

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