All told, AI accounted for $2.8 billion in VC investment in April, or about 13% of total funding.

Global funding from venture investors plunged 56% last month compared to April 2022, going from $47.8 billion to about $21 billion this year, according to a Crunchbase analysis released today. However, AI was one of the bright spots for venture capital firms, attracting nearly $3 billion in investments.

“How Low Can It Go?” asks Senior Data Editor Gené Teare in a Crunchbase News headline. This was second-lowest monthly figure on record for Crunchbase, which tracks venture capital investments, following February 2023’s nadir of about $15.6 billion in spending across angel/seed, early, late, and growth-stage rounds.

Month-over-month funding amounts were also down, Crunchbase says. But that’s due large part to a surge in late-stage funding in March 2023, notably Stripe’s $6.5 billion round.

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