The rest of the tech world might be slumping, but in one sector the investor cash is flowing freely and startups are still fetching eye-popping valuations: The “generative artificial intelligence” space is booming like it’s 2021.
- Generative AI is a catch-all term for AI tools that use sophisticated models to create new images, text, and other content rather than just analyzing something that already exists.
Driving the news: Two major generative AI startups commanded unicorn-status valuations in recent fundraising rounds (something that wouldn’t be out of the ordinary two years ago, but has become much rarer lately).