GenAI startups biggest driver of unicorns, says VC firm Accel

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GenAI startups biggest driver of unicorns, says VC firm Accel
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Bruce Cockburn: 50 years of music, spirituality and social justice | SaltWireSTOCKHOLM - Generative artificial intelligence companies have become the major driver of unicorns -- startups reaching $1 billion valuation -- with 60% of the new ones falling in this category, according to a report from venture capital firm Accel.

"A very limited number of companies which have attracted a disproportionate amount of the capital... the investment going into the foundational models - we will see that going down," Philippe Botteri, a partner at Accel, said in an interview. Europe, home to AI startups such as AI video avatar platform Synthesia and Stability AI, is already producing 50% more AI publications than the United States with similar citation rate, according to the report.

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