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FinTech Funding Hits 8-Year Low as VCs Embrace AI
- Venture capital investment in the FinTech sector hit an 8-year low in 2023, reaching $21.5 billion.
- Factors such as declining valuation and slowing growth rates contributed to the decline in funding.
- Many VC investors are now focusing on companies involved in generative AI.
- The shift in funding towards AI firms has been significant, with 42% of U.S. venture capital being invested in AI companies in 2024.
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