Third Quarter Results Show AI and Robotics Spending Surge: Investments in AI and automation set records in Q3 2021, with AI startup funding already topping its 2020 numbers through only nine months:
According to CB Insights’ State of AI report, AI startups raised a record $17.9 billion worldwide across 841 deals in the third quarter, the fourth record-breaking quarter in a row and an 8 percent increase over Q2’21. Year-to-date funding measured in at a staggering $50 billion. If current trends hold, 2021’s total AI funding will more than double the record $32.2 billion of 2020. The United States set its own record for AI funding, with U.S. startups attracting $10.4 billion across 324 deals during Q3, by far the most of any country.
Robotics sales also set records in the third quarter according to the Association for Advancing Automation, which tracks North American sales. Twenty-nine thousand units worth $1.48 billion have been sold so far this year, an increase of 35 percent over the same period last year. Observers pointed to the ongoing worker shortage as a possible explanation for the surging sales — an argument the 43 percent growth in robot sales to the “Food & Consumer Goods” sector would seem to support — but it remains unclear how much of a role shortages have played.
AI startups haven’t been the only firms to see their valuations surge — as The Wall Street Journal reported earlier this week, since Facebook parent company Meta announced plans to up its spending next year (with as much as $9 billion expected to go towards AI investments), chip companies have seen their stock prices soar: shares of Nvidia and AMD have gone up 30 percent and 20 percent, respectively.
In Translation CSET’s translations of significant foreign language documents on AI
PRC Compute Assessment:White Paper on China’s Computing Power Development Index. This white paper, issued by a PRC state-run think tank, calculates China’s total computing power as 135 Exaflops. The white paper also compares China’s compute with other countries, and compares the computing power of different Chinese provinces and regions.
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Report:The Future of the Digital Order, Jeff Cirillo, Lisa Curtis, Joshua Fitt, Kara Frederick, Coby Goldberg, Ilan Goldenberg, Andrea Kendall-Taylor, Megan Lamberth, Martijn Rasser and Dania Torres, CNAS (November 2021)
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