The second half of AI startups: Capital flow and survival rules

OpenAI has raised $122 billion in a single round of funding, with its valuation reaching $852 billion. Anthropic has overtaken OpenAI in valuation to become the most valuable AI startup globally, but many vertical applications face profit challenges. The market is no longer competing on model parameters but is shifting focus to application implementation and the 'data flywheel'. The field of embodied AI is active but still in its early stages, with a 'chatGPT moment' expected in 5-10 years. Cash flow has become a must-learn course for AI startup founders, requiring focus on businesses that can generate positive cash flow.