In May 2024, six new companies achieved unicorn status, contributing nearly $100 billion in value, a decrease from the previous month and year. xAI led the new unicorns, raising $6 billion and achieving a $24 billion valuation. The AI and Web3 sectors each added two companies to the unicorn list, with U.S.-based firms comprising five out of the six. CoreWeave and Scale AI were notable in AI, while Farcaster and Humanity Protocol were key in Web3. Significant exits included Zeekr's IPO at $5.2 billion and acquisitions such as Noname Security by Akamai Technologies for $450 million. The month also saw notable funding rounds, including WEKA in AI, Altruist in financial services, and Sigma Computing in data and analytics.
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