Venture capitalists race to land next AI deal on Big Tech's turf


FILE PHOTO: A response by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. REUTERS/Florence Lo/Illustration

PALO ALTO, California (Reuters) - In December and January, several venture capitalists from the U.S. and Britain raced to Paris to vie for a stake in a new artificial intelligence company that could reshape how people work.

The startup they courted, Dust, consisted of just two people. It had not been incorporated yet. And it rejected a generous proposal by top investment firm Coatue Management among other offers, three people familiar with the deal told Reuters.

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