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venture capital fundingCNBC
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81% Informative
" AI is sucking the air out of the room" when it comes to cloud, Accel says.
Generative artificial intelligence startups are getting 40% of all the venture capital funding that flows into cloud companies.
Cloud startups raised $62.5 billion in Europe , Israel and the U.S. in 2023 , report finds.
Dev Ittycheria , CEO of database firm MongoDB, noted that it's likely concentration of the most powerful AI models will consolidate to only a select few players that are able to attract the necessary capital to make investments in data centers and chips to train and run their systems. "Access to capital will profoundly impact the performance of these models," Ittycheria said in an interview Tuesday on CNBC 's " Squawk Box ." He added: "My bet is that over time, you won't have this many model providers, you may come down to one or two .".
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