Investors pour $36.7 billion into AI start-ups in US from April to June, defying a downturn

Quick Summary:

Many unprofitable tech start-ups have cut costs or gone out of business, but the ones focused on AI are thriving.

Scale AI, a provider of data for AI companies, raised US$1 billion, valuing it at US$13.8 billion.

Stanford of PitchBook said competition from big tech companies including Microsoft and Amazon might also affect AI start-ups’ ability to raise enormous sums of money.

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Category: EconomyBusiness

Markets: SingaporeUnited States

Topics: Start-up Tech Billion Enormous Being Funding Investors Start-ups Raised Companies Pour

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-03 @ 12:40:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 806 words

Reading Time: 5 minutes read

Sentences: 36 lines

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Copyright Owner: © The Straits Times

News ID: 21468182

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