Where VC experts see opportunities in AI investing | Bloomberg Deals
Speakers
Emily Zhao
— Managing Director at Salesforce Ventures
Julia Moore
— Co-Founder and Managing Partner at Breakout Ventures
Daniel Docter
— Managing Director at Dell Technologies Capital
Summary
Three venture capitalists discuss AI investment themes, highlighting the shift from digital infrastructure to physical-world applications like robotics, life sciences, and industrial tech, while assessing late-stage valuation risks and the need for contrarian early-stage bets.
- Emily Zhao sees opportunity in AI-powered robotics after a focus on AI infrastructure.
- Julia Moore emphasizes proprietary data in life sciences and industrial tech as the next wave.
- Daniel Docter notes large capital flows into inference compute and reinforcement learning.
- All three discuss valuation dynamics, with later-stage momentum risking overpriced deals and early-stage requiring prepared conviction.
- Risks include many AI startups not reaching the finish line due to power law.
- Salesforce Ventures leverages its customer base to pressure-test later-stage startups.
- Dell Technologies Capital uses expert networks to build conviction quickly.
