Artificial Intelligence: Australia Misses Out on Venture Capital Boom
Australian Financial Review
SKIPPED
Details
- Date Published
- 22 Mar 2024
- Priority Score
- 2
- Australian
- Yes
- Created
- 8 Mar 2025, 01:04 pm
Description
Venture capitalists are going all-in trying to back big winners, rather than spreading their funds around.
Summary
The article highlights a slowdown in venture capital funding for AI startups, with Australia's decline being sharper compared to the global average. This funding scarcity contrasts with the heightened corporate interest in AI following innovations like ChatGPT. The piece suggests that the local investment climate has become challenging, exacerbated by fears of a bubble in AI-related public stocks. Although it notes trends in AI investment, the article offers limited analysis on how these trends affect existential or catastrophic AI risks or shape AI safety policies. This context is crucial for understanding potential governance responses or safety frameworks needed to mitigate AI risks in Australia or globally.
Body
Paul SmithTechnology editorMar 22, 2024 – 5.00amSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginDespite a boom in interest in artificial intelligence across the corporate world since the launch of ChatGPT, investment in new start-ups is slowing, with Australian funding dropping more rapidly than the global average.As leading market figures warn of a growing bubble in public AI-related stocks, data freshly compiled forThe Australian Financial Reviewshows investment in the private markets slowing, with a leading local entrepreneur saying the capital raising process has become impossibly difficult.Loading...SaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreAIFundingVenture capitalAFR ReportsPaul SmithTechnology editorPaul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy.Connect withPaulonTwitter.EmailPaulatpsmith@afr.comFetching latest articlesOlympic weightlifting is hard. This boss uses the 1pc rule to get it doneLucy DeanOut-of-control watch price rises give housing a run for its moneyKnow your craft: How the biggest airlines rate at the pointy endJun Bei Liu: How I learnt to speak upSally Patten and Lap PhanThe four actor ‘tricks’ giving executives more confidence‘We’ll fight’: Alex Waislitz on family battles and bad betsA last-chance tote bag and a groovy case for trumpetersEugenie KellyThis machine can bring out the creative streak you never knew you hadThis data-driven wellness retreat is a haven for high-flyersBillionaire Nicola Forrest appoints UBank boss to run family officePrimrose RiordanVictor Smorgon’s star fundie eyes 50pc returns for new fundForrest family powerbroker had alleged role in big Fortescue decisions