--- title: "Unique Research: November 2024 Global AIGC Investment Report" author: "Unique Research" sourcePublication: "Unique Research (FFCAP English library)" originalPublishedAt: "2024-12-30T13:48:57+08:00" canonical: "https://ffcap.cn/en/research/20241230a0585500" source: "https://ffcap.cn/en/research/20241230a0585500" language: "en" cnSourceUrl: "https://view.inews.qq.com/a/20241230A0585500" --- # Unique Research: November 2024 Global AIGC Investment Report _Unique Research · Company / Funding · December 30, 2024_ Co-published with **Xiniu Data**. Data as of November 30, 2024. Sources: Xiniu, Crunchbase, PitchBook, Growjo, and others. ## Report facts - Title: November 2024 Global AIGC Investment Report - Publishers: Unique Research & Xiniu Data · December 30, 2024 - Cutoff: November 30, 2024 ## Snapshot - **November global AIGC financing:** ¥99.7B, +37% vs October. (Overview section also notes October at ¥72.4B, +234% vs September.) - **YTD through November:** ¥443.1B globally across 1,072 deals; China ~¥39.0B across 434 deals — China is 8.8% of global dollars but 40.48% of deal count. - **Stack mix (global YTD):** model layer 70.41% (¥353.169B); application layer 20.79%. China: model 57.25% (¥34.357B); apps 27.20%. - **Countries:** U.S. leads with ¥344.2B; China deal count #1 (434); China dollars ~3× #3 UK. - **Active China investors:** MiraclePlus 29 deals; Shunxi 10; Alibaba and Fortune Capital 8 each. - **Hot China raises:** Moonshot $1.3B cumulative #1; MiniMax $600M; Zhipu $400M (Prosperity7). - **Overseas:** YC 20 deals; a16z 16; General Catalyst and Sequoia 11 each. xAI ¥85.8B raised #1; OpenAI ¥57.8B; Anthropic ¥50.3B. - **Secondary:** AIGC concept index 1,832.30 (+16.10% MoM); turnover ¥2.66T; turnover rate 147.38%. _\[Tables/charts — see CN images\]_ ## 01\. November financing Global AIGC raised ¥99.7B in November (+37% MoM). ### 1.1 Overseas YC led deal count (4); General Catalyst 3; individuals 3. Eight institutions put ≥¥1B into AIGC names including Amazon, Valor Equity Partners, Sequoia, SoftBank Capital, a16z, QIA, GE, and General Atlantic. xAI’s **$6B** (~¥43.1B) was the month’s largest round — backers included a16z, BlackRock, Fidelity, Kingdom Holding, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia, Valor, Vy Capital, plus NVIDIA and AMD. ### 1.2 China October saw 130 institutions investing (Qidi Star, Shunxi, Baidu 3 each). November: 70 AIGC-related companies funded; 7 over ¥100M including Galaxy General, Chengyuan, Estun Kozai, Diansen, Lemon Bio, Tianwu, Bingo Intelligent. ## 02\. Year-to-date Through November: ¥443.1B / 1,072 deals globally; China ~¥39.0B / 434. China share: 8.8% of capital, 40.48% of deals. **Cadence:** Overseas H2 deal count well above H1; 608 overseas companies disclosed financing YTD. China Q1–Q3 deals 68 / 103 / 171; November a dense close month. **By layer:** Global model 70.41% / apps 20.79%. Overseas model 72.20% (¥318.812B). China model 57.25%, base 13.35%, mid 2.21%, apps 27.20%. Within China apps: productivity tools 30.32%, consumer 16.09%. ## 03\. Global trends & geography Feb–Apr deal count stable; Q2 jumped to 220 deals (~3.3× YoY). July +~24% MoM; November cooled to roughly August levels. Jan–Nov mean 97.45 deals/month (median 99). Dollar peaks driven by multi-hundred-million to multi-billion model raises (xAI $6B May B; Anthropic $2.75B Amazon March; Moonshot $1B Alibaba-led February; Baichuan ¥2.824B July; OpenAI $6.6B October). Monthly mean ~¥9.745B (note: CN overview uses mixed “亿元” scales — figures above follow body text). U.S. ¥344.2B and 375 deals (~86% of China’s deal count). China dollars ~3× UK; China leads deal count at 434. ## 04\. China detail MiraclePlus 29 investments (long portfolio from ProDuck Lab to Gongji Compute, etc.). Shunxi 10 (including Zhipu, Baichuan, FaceWall, Shengshu, Galaxy General). Alibaba 8 — Unique Research estimates Alibaba’s cumulative AIGC deploy may exceed ¥11B by end-November (Moonshot, MiniMax, Baichuan, etc.). Fortune Capital 8. 384 China AIGC companies financed YTD; 78 raised >¥100M cumulative in-year. Moonshot $1.3B #1; MiniMax $600M; Zhipu $400M #3. China mean 39.45 deals/month; Q3 deals +91% vs Q1; November a yearly high (~77% above average). February dollars led (¥8.2B) on Moonshot’s $1B; other ~¥5B months tied to MiniMax, Zhipu, Baichuan, Moonshot’s second in-year raise. Monthly mean ¥3.549B (median ¥2.705B). ## 05\. Overseas detail YC 20 deals / ~$510M deployed. a16z 16; GC and Sequoia 11. Individuals 62 deals. By dollars: Amazon ~¥49.1B; a16z ¥19.9B (including two xAI $6B participations); Google ~¥17.8B. 43 overseas institutions deployed ≥¥1B YTD (vs 19 prior year). Overseas AIGC raised ~¥404.1B YTD (+174% YoY). xAI ¥85.8B; OpenAI ¥57.8B; Anthropic ¥50.3B. 34 companies raised >¥1B (G42, CoreWeave, Cohere, Lambda, DeepL, etc.). Overseas deal count compounded >32% March–October; monthly dollar mean ¥36.736B (median ¥24.193B). ## 06\. Secondary market As of Nov 29 (East Money): AIGC concept index 1,832.30, +16.10% MoM; turnover ¥2.66T; turnover rate 147.38%. Top gainers cited: BESTEK, Sanyou Tech, Shifeng Culture, Wensli, 263 — with company blurbs in CN source (hardware controllers, electrode equipment, toys+AI, silk culture, internet communications cloud). ## 07\. Statements Unique Research (Unique Capital) + Xiniu Data. China primary-market figures from Xiniu, analyzed by Unique Research. Reference only; not investment advice; possible affiliations where legally permitted. _Author / editor: Pu Qing_ — END — --- Editorial English edition published on UniqueCapital: https://ffcap.cn/en/research/20241230a0585500 On-site reading page: https://ffcap.cn/en/research/20241230a0585500