Funding and deals · Companies and people
The neolab wave: 102 AI startups raised $70 billion, with combined revenue under $1 billion
Neolabs are a new kind of AI startup that focuses on research before any product or revenue and raises billions at founding. According to a tally Paul Bonnet shared on X, 102 neolabs have raised $70 billion in total, at a combined valuation of $320 billion and combined revenue under $1 billion. The figure is one person’s tally; Radical Ventures’ June report put it at more than 40 neolabs raising $40 billion. Examples include Reflection AI’s $2 billion round at an $8 billion valuation. Ashu Garg of Foundation Capital expects most will not close the technical gap and will end up with something only incrementally better.
Sources
- International Business Times Singapore, “AI Neolabs Are Raising Billions Before They Have a Product; The Bet Is on Research”, (ibtimes.sg)
- Paul Bonnet (X), post on X: '102 Neolabs. $70bn raised. $320bn combined valuation. Less than $1bn of revenue.', (x.com)
- Radical Ventures, “The Rise of NeoLabs”, (radical.vc)
About this story
This story was posted on Instagram by @jarrus.tech on Oct. 1, 2026.
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This story in Turkish: Neolab dalgası: 102 yapay zeka girişimi 70 milyar dolar topladı, toplam gelirleri 1 milyar doların altında
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