In early January 2023, news started circulating that OpenAI, the company behind artificial intelligence tools ChatGPT and DALL-E, could be valued at $29 billion in a new offering. By the end of the month, Microsoft confirmed it had indeed agreed to a “multi-year, multi-billion-dollar investment” in OpenAI, believed to be around $10 billion.

That was just the beginning. San Francisco-based Adept AI raised $350 million in a Series B in March, with a reported post-money valuation of at least $1 billion. And Anthropic, a ChatGPT rival with its AI assistant Claude, secured $450 million in a Series C in May, which reportedly valued the company at $5 billion.

By the end of June, the “personal AI” startup Inflection AI managed an impressive $1.3 billion round led by Microsoft, Reid Hoffman, Bill Gates, Eric Schmidt, and new investor Nvidia. According to Forbes, the round valued Inflection AI at $4 billion.

Despite the avalanche of investment dollars AI has already seen, much more is expected. From new generative AI platforms to the infrastructure layer backing them or applications using AI in specific sectors, there are many areas where investors are showing interest.