News

Oct 6 (Reuters) - As the rush towards AI-related companies continues on Wall Street, data from Crunchbase showed on Monday that the sector enjoyed a bulk of venture funding in the third quarter, with names including Anthropic raking in billions. Global venture funding in the third quarter increased 38% year-over-year to $97 billion, increasing slightly from $92 billion in the second quarter. The three largest venture rounds in the quarter ended September were raised by foundation model companies: $13 billion by Anthropic, $5.3 billion by xAI and $2 billion from Mistral AI. Funding for the hardware sector was the second-largest in the quarter, with large rounds raised by robotic, semiconductor, quantum and data infrastructure companies totaling $16.2 billion, according to Crunchbase's data.