Radical Ventures: AI neolabs, many lacking products, markets, or revenue, raised $24B in the past two quarters, nearly 5x OpenAI and Anthropic pre-ChatGPT (Louise Lucas/Financial Times)

AI neolabs, many of which lack products, markets, or revenue, have collectively raised $24 billion in the past two quarters. This figure is nearly five times the amount raised by OpenAI and Anthropic before the release of ChatGPT. This significant investment highlights a trend where investors are pouring capital into AI ventures, even those without established business models, suggesting a potentially speculative market.