The Washington PostThe Washington Post

The tech industry was deflating. Then came ChatGPT

By Gerrit De Vynck

04 Jun 2023 · 5 min read

informed Summary

  1. Venture capitalists are investing heavily in AI start-ups, helping the tech industry to come to terms with a wave of layoffs.

SAN FRANCISCO - A year ago, the mood in Silicon Valley was dour. Big Tech stocks were falling, the cryptocurrency bubble had popped, and a wave of layoffs was beginning to sweep through the industry.

Then the artificial intelligence boom hit.

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