From doom to boom: AI is slowly re-energizing San Francisco

The flow of venture capital dollars into AI and machine learning companies in San Francisco hit new highs this year, with start-ups raising $18.5 billion in the first quarter -- about 82 percent of U.S. investments in the segment, according to data from PitchBook. That is $6 billion more than all the AI companies in San Francisco raised in 2022. Although the quarterly amount invested has moderated, investor interest in AI is expected to be strong in 2024 as companies continue to recognize AI's value, PitchBook said.