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ARTIFICIAL INTELLIGENCE
AI is crushing startup valuations for companies that raised before ChatGPT existed
More than 220 former unicorns have lost their billion-dollar status as venture capital concentrates in a handful of AI giants, leaving pre-2023 startups stranded between inflated valuations and a market that has moved on
BUSINESS
Anthropic files confidentially for an IPO, potentially beating OpenAI to Wall Street after eclipsing it in valuation
The Claude developer submitted draft S-1 paperwork on the same day it surpassed $50 billion in annualised revenue run rate, setting up the most consequential AI public offering since the generative AI boom began
ARTIFICIAL INTELLIGENCE
Florida becomes the first state to sue OpenAI, naming Altman personally and calling ChatGPT a defective product
The lawsuit, filed weeks before OpenAI’s planned IPO, accuses the company of violating product liability laws, ignoring safety warnings, and collecting children’s data without parental consent
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