AI Neolabs Raise $24B in Two Quarters

AI neolabs, many without products, markets or revenue, raised $24 billion over the past two quarters, nearly five times what OpenAI and Anthropic raised before ChatGPT, according to the Financial Times. The surge signals investor appetite for early-stage AI ventures is outpacing commercial traction, raising questions about valuations and the sustainability of funding for companies still pre-product.