Big Tech Dumped $17 Billion Into AI Companies in 2023 Despite Frozen Market ...Middle East

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Big Tech Dumped $17 Billion Into AI Companies in 2023 Despite Frozen Market
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Tech industry giants poured billions of dollars into artificial intelligence startups this year, far outpacing the amount of investment from venture capitalists, the more traditional source of funding for fledging businesses. Microsoft, Google and Amazon collectively invested two-thirds of the $27 billion raised by generative artificial intelligence startups in 2023, according to data from Pitchbook, which tracks startup investments. The investment surge from those established companies reflects the unusual moment in Silicon Valley. AI startups are a rare hot spot in an otherwise ice-cold market, and the cost to develop that technology is incredibly steep. Venture capitalists, meanwhile,

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