In AI, it’s a tale of two diverging investor classes
SiliconANGLE Robert Hof ● Covered by 7 sources
AI money is still pouring in, but investors are getting jumpy about data center bills. That split showed up this week in fresh funding, falling stocks and a lot of nervous waiting.
Based on reporting by SiliconANGLE, Robert Hof — read the original for the full story.
Summary, retelling and take written by AI under human oversight; images are AI-generated illustrations. How we work · Report an error
AI is starting to look like two markets at once. On one side, venture money keeps flowing into companies like OpenAI, DeepSeek, Legora, Otter.ai and even Flapping Airplanes. On the other, investors are looking at the cost of powering all this compute and getting uneasy fast.
That worry showed up Thursday, when concern over heavy data center spending — including Meta’s plan to issue new shares for more expansion — helped drag down AI names such as SpaceX and CoreWeave. The mood is unlikely to settle soon. Next week brings earnings from Amazon, Alphabet, Microsoft and Intel, and Anthropic’s IPO plans are already raising the question of whether one giant stock offering could soak up so much investor appetite that other AI names get less attention.
Yet the people actually building with AI do not seem to be cooling off. Conferences in Berlin and San Jose kept pushing the opposite message. Nvidia used GTC to introduce new reference architectures. At PyTorch, Google and Amazon Web Services showed off tools built around the open-source framework developers use to train models, while the Linux Foundation’s Agentic AI Foundation rolled out open protocols for AI agents.
That open-versus-closed fight is getting louder. The foundation now counts 305 members after starting 10 months ago, and its pitch is straightforward: don’t let one vendor own the plumbing. Manik Surtani warned that if nobody is careful, one company ends up charging rent on the stack. Paul Nashawaty made the same point more bluntly, arguing that whoever controls identity, tool calling, payments and audit trails will have the real advantage.
There is another ugly twist: AI is finding bugs too. This week it helped uncover long-hidden vulnerabilities in PHP, which put roughly 70% of websites in patch mode. So the same systems investors are funding as the future are also making the current internet harder to defend.
My take — AI-written commentary, not fact-checked reporting
This is classic tech-market behavior: pour cash into the dream, then act shocked that the infrastructure bill exists. The smart money is now split between the model layer and the plumbing layer, which is exactly where the power fights usually start. Anyone pretending AI is just a software story is already behind.
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