Funding in European and Israeli GenAI startups was close to $1 billion in the last 12 months compared with over $14 billion in U.S. ones, though skewed due to a $10 billion funding to OpenAI alone, the report said.
AI foundation models, developed by Microsoft-backed OpenAI, Meta and others, are capable of generating text, images or other media in response to prompts. "In the future, the money is going to be directed more towards a company like Synthesia for developing applications, then we are going to get to a more normalized balance where we expect a two-to-one ratio between U.S. and Europe," said Botteri.
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