VC funding for startups in the US fell by 30% in 2023, but the AI and energy storage sectors both grew substantially. The sectors were hit in part by inflation and changing valuations. Growth in research and development of the two sectors is expected to show dividends soon. The sectors are expected to be crucial in the future of the energy sector, as grids become more flexible and storage becomes more sophisticated. VC funding came to a total of $170.6bn in 2023. AI and energy storage will require continuation of large-scale computer systems with huge amounts of computing power.
Energy Storage Enters a Thrilling New Era of Surging VC Interest
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