AI Neolabs Raised $24B With No Product or Revenue: Radical — SkimNews
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- Radical Ventures reports that AI "neolabs" collectively raised $24 billion over the past two quarters
- Many of these AI neolabs still lack products, markets, or revenue, per the Radical Ventures analysis
- The $24 billion total is nearly 5x the combined funding OpenAI and Anthropic raised before ChatGPT's launch
- The analysis cautions that these aggregate figures "can hide some sleight of hand" and describes backing such labs as "brave or foolhardy"
Why it matters: Investors are now writing checks five times larger than what OpenAI and Anthropic needed before ChatGPT — into labs that often lack a product, a market, or any revenue — raising the stakes on whether AI venture returns can justify the capital concentrated in unproven companies.
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