Investor rush for artificial intelligence is real business

Silicon Valley loves a new fad. Judging by the spate of start-up fundraisers over the past few weeks, it has come up with an idea that’s more than half a century old: artificial intelligence.

“This is the hottest place right now,” said Stephen Purpura, whose own AI company Context Relevant has raised more than $ 44 million since it was founded in 2012. In his estimation, more than 170 start-ups jumped on the AI ​​train.

The newbies to AI believe that the …

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