In 2024, artificial intelligence, particularly generative AI, is dominating the technology landscape. While OpenAI has garnered significant attention and funding, a new report by Accel and Dealroom reveals a surge of emerging AI startups in Europe and Israel. Despite accounting for 45% of total venture funding annually, the proportion invested in AI, especially generative AI, is significantly lower in these regions. European cities like London, Tel Aviv, and Berlin are emerging as AI hotspots, with French startups leading the pack in generative AI funding. Strong educational institutions in these regions, alongside the presence of major tech companies, are nurturing a rich pool of AI talent and founders. The growing importance of 'founder factories' within big tech companies, evident in the significant number of GenAI startups with founders from MAAMA (Microsoft, Alphabet, Apple, Amazon, Meta) organizations, highlights the integral role of industry giants in shaping the AI landscape.