MoneySeptember 17, 2026via Financial Times Technology
Has AI broken the old VC model?
Why it matters
The AI wave is concentrating exits and capital at scale, forcing VCs to reconsider portfolio strategy, reserve depletion, and the viability of traditional Series A/B venture models as mega-rounds dominate.
Key signals
- Multiple mega-IPOs triggered by AI boom
- Feast-or-famine VC dynamics being stretched to extreme
- Implies shift in exit patterns and capital concentration
- Published Sep 2026 — forward-looking analysis on structural VC change
The hook
AI boom mega-IPOs are reshaping venture capital's risk-return math. The old feast-or-famine model is breaking.
A spate of mega-IPOs triggered by the AI boom is stretching the feast-or-famine industry dynamic to an extreme