US startup funding falls 30% in 2023 despite AI megadeals: PitchBook

US startup funding falls 30% in 2023 despite AI megadeals: PitchBook

FILE PHOTO: ChatGPT logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

US investors injected $170.6 billion into startups in 2023, a decrease of nearly 30% from the $242.2 billion recorded in 2022, as the venture capital funding market continues to grapple with valuation resets amid rising interest rates, according to PitchBook data released on Thursday.