Venture capitalists race to land next AI deal on Big Tech's turf

PALO ALTO, California, March 24 (Reuters) - In December and January, several venture capitalists from the U.S. and Britain raced to Paris to vie for a stake in a new artificial intelligence company that could reshape how people work. The startup they courted, Dust, consisted of just two people. It had not been incorporated yet. And it rejected a generous proposal by top investment firm Coatue Management among other offers, three people familiar with the deal told Reuters. Sequoia Capital won, two of the people said, leading a sizable "seed" fundraising round of $5 million.