Investing in artificial intelligence companies has never been for the faint of heart with valuations soaring and falling in the billions very quickly.
However, Silicon Valley’s leading venture capital investors are not only willing to continue to invest in AI, but also invest in the time trying to find the next big thing.
That was the scene at Plug and Play this Thursday, where the latest round of AI startups pitched to investors at the Sunnyvale incubator that brings startups together and the money they need to grow.
“[This] allows us to capture the best startups in the market because they want to pitch to [investors], and get their business, and that attracts startups,” Michael Olsted, a partner at Plug and Play said. “The more startups you attract, the more investors you attract.”
While big AI companies often talk about replacing jobs with machines, startups like Shyld AI are raising money in the healthcare field so they can pay people.
“We are hiring more people, but on the other side, we’re freeing up time for physicians and nurses so they can spend more time with patients,” Shyld AI CEO Moh Noshad said.
AI companies from all over the world focus on Silicon Valley as the place to network and grow. One company even coming from Hong Kong.
Additionally, startups and venture capitalists at the event said they’re not panicking about the sudden dip in the stock prices of companies like NVIDIA on Thursday. They’re instead encouraged that so many young people are attempting to use AI in so many different ways.
Source: NBC Bay Area