Andreessen Horowitz Makes a $3 Billion Bet There’s No AI Bubble

An artificial intelligence startup that helps developers write and debug code is now worth nearly as much as United Airlines. A two-month-old AI computer company raised a massive $475 million seed round, with plans to secure even more financing soon. And a platform for ranking AI models is now valued at nearly $2 billion, less than a year after it was spun out of an academic project.

The exuberance for all things AI has rapidly spilled over into the normally staid field of developer tools, benchmarking services and back-end systems — areas that most regular consumers will never ...