How is the funding environment shaping up for artificial intelligence in 2019? As we pass the mid-year mark, let’s see how the year-to-date metrics compare to the historical trends. The graph below shows AI total funding by year, stacked by quarters.
As the graphic demonstrates, AI has amassed $11B through Q1 and Q2 of this year. This amount represents 56% of the total funding in 2018, and 138% of the funding through Q2 in 2018. The top three funding events in Q2 2019 include a $1.3B round into ByteDance, a $750M round into MEGVII, and a $568M round into UiPath.
A straight-line projection of the completed funding this year would result in $22B, which is 112% of the total 2018 funding. By the same token, a weighted quarterly average projection of 2019 funding would result in $27.3B, which exceeds the total 2018 funding by a whopping 38%. Therefore, based on the mid-year data, AI funding in 2019 is projected to surpass the funding in 2018 and have a banner year.
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