Neolabs raised $24 billion over the past two quarters. Many of these AI startups lack established products, markets, or revenue.
This total is nearly five times the funding OpenAI and Anthropic raised in the years before ChatGPT launched. Radical Ventures provided the data.
Investors are targeting the next generation of foundational AI models. Startups use the capital to secure scarce talent and expensive computing power.
Fundraising cycles have accelerated to a median of 7.6 months between rounds.