Artificial intelligence startups have contributed significantly to the recovery of U.S. venture capital funding from market lows, with the total capital raised in 2024 nearly 30% higher year-on-year, according to PitchBook data released on Tuesday. AI startups also captured a record 46.4% of the total $209 billion raised last year, compared to less than 10% a decade earlier. The enthusiasm for AI technology, largely sparked by the breakout success of OpenAI’s ChatGPT since late 2022, has helped revive venture capital funding after companies sought to establish true valuations in the post zero-interest-rate environment.