U.S. tech giants added $2.4 trillion to their market capitalizations in a year defined by the hype around generative artificial intelligence, according to a new report from venture capital firm Accel.U.S. tech giants added $2.4 trillion to their market capitalizations in a year defined by the hype around generative artificial intelligence, according to a new report from venture capital firm Accel.for the first time, with the U.S. chip giant now worth over $1 trillion.
"Any software company is leveraging generative AI, whether they're just a startup or a new company or an existing company ... You should really think about this as something that is pervasive." The number of unicorn companies reverted to pre-Covid levels, with AI taking up a much greater proportion of new billion-dollar companies. In Europe and Israel, 40% of new unicorns were in generative AI; in the United States, it was 80%.This year has been a tough one for tech, with fundraising and valuations dropping sharply as investors grew wary of the sector.