AI boom derails pre‑ChatGPT unicorns, wiping out half their valuations
The surge of investment in AI firms like OpenAI has left hundreds of pre‑ChatGPT startups with outdated tech and steeply falling valuations, turning many billion‑dollar unicorns into "fallen unicorns." PitchBook data shows companies that raised in 2021 are now worth 68% less on average.