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Investors Pour $27.1 Billion into AI Startups, Defying a Downturn
"For two years, many unprofitable tech startups have cut costs, sold themselves or gone out of business," reports the New York Times. "But the ones focused on artificial intelligence have been thriving." Now, the AI boom that started in late 2022, has become the strongest counterpoint to the broad...
AI companies are attracting huge rounds of funding reminiscent of 2021, when low interest rates pushed investors away from taking risks on tech investments... Excitement around generative AI technology, which can produce text, images and videos, set off a frenzy of startup creation and funding. "Sam Altman canceled the recession," joked Siqi Chen, founder of the startup Runway Financial, referring to OpenAI's chief executive.
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