A: Hey, did you catch the latest news about AI?
B: No, what's up?

A: Elad Gil, this VC guy, said that he thinks AI is one of the least predictable tech booms ever! It's like every few months something new happens!

B: Wow, really? What did he say about it?

A: He invested in some early-stage companies building stuff with large language models. He saw a big jump from GPT 2 to GPT 3 and that's why he started investing. But the capabilities of these foundational models keep getting better and better, upending AI every few months!

B: So who are the leaders in this field now?

A: He thinks there's a handful - Google, Anthropic, OpenAI, maybe Meta or Mistral. And in AI-assisted coding, it seems like Anysphere's Cursor and Cognition’s Devin will be hard to beat. In medical transcription, he mentioned Abridge as a front runner.

B: What about the markets that are still wide open?

A: He said fintech, accounting, AI security, and other interesting markets where we don't know who's going to do it.

B: Interesting... And fast growth doesn't mean a company is a breakout hit anymore. It's only after they go through their trial-phase that we can see if the revenue will stick.

A: Yeah, and he pointed out Harvey as one of the AI startups that seems to be doing well. They raised three massive rounds in 2025 and are now valued at $8 billion!