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But the tech giant's play underscores the market's demand for tech talent — and venture capitalists expect a wave of "acquihires" to hit the AI ecosystem later this year. M&A dealmaking among AI startups is already off to a strong start this year, with 55 exits recorded in Q1 of 2024, per Crunchbase data. AdvertisementThe majority of AI startups are overpriced, said Konstantin Vinogradov, general partner at Runa Capital. AI startups with revenue in the single-digit millions that raised money at unicorn valuations, Dash said, might not even have that option. Those deals don't make sense for buyers, he said, which could lead Big Tech companies or other AI startups to poach their talent instead.
Persons: , Inflection's, Ayangar, Konstantin Vinogradov, Somesh Dash, overshadowing, Shmuel Chafets, Sivesh Sivakumar, Shaun Johnson, Naveen Rao, Sivakumar, Johnson, PhotoRoom, Aravind Srinivas, Mike Smeed, Chafets, Dash, they'll Organizations: Service, Microsoft, Business, Investors, Runa, Big Tech, Apple, Target, Ventures, Accenture, Boston Consulting Group, Intuit, Nike, American Express, Safeway, InMotion Ventures, Disney, Netflix Locations: OpenOcean, Snowflake, Databricks
Israel's tech CEOs and workers are volunteering and being conscripted for military service. They've said it's their duty to "protect our country" after the "bloodiest day in Israel's history." "I want to be part of the people who are protecting our country," Israeli startup CodiumAI CEO Itamar Friedman, who has reported for reservist duty, told The Wall Street Journal . People have been rushing into military service," he added. Israel has compulsory military service, with all male citizens over the age of 18 required to serve 32 months in the armed forces.
Persons: They've, , Itamar Friedman, Shmuel Chafets, Armis, Amitai Ratzon, Israel Organizations: Hamas, Service, Gaza, Wall Street, Bloomberg, Target Global Locations: Israel, Tel Aviv, Gaza
Chipmaker Nvidia canceled its AI Summit in Tel Aviv which had sessions on topics like AI and LLMs. Some Israeli tech CEOs and VCs are even volunteering for military service to help out in the war. On its website, Nvidia highlighted over 6,000 startups in Israel with investments from VCs, which makes it "one of the world's most vibrant technology hubs." AdvertisementAdvertisementThe event was supposed to have 60 sessions on topics about AI, LLMs, cybersecurity, autonomous vehicles and more. Some Israeli tech CEOs and VCs are volunteering for army service to help out in the war against Hamas.
Persons: , Benjamin Netanyahu, Jensen Huang, Itamar Friedman, Shmuel Chafets Organizations: Nvidia, Hamas, Service, Gaza Ministry, Health, CNBC, Microsoft, Amazon Web Services, Lenovo, Target Locations: Tel Aviv, Israel, Gaza, Snowflake, VCs
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