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The AI chatbot bubble is ready to burst and the survivors — if there are any — won’t be in Europe. Character.AI, a startup offering chatbots that can impersonate virtually anything or anyone, has raised $150m earlier this year at a valuation of $1bn. However, its entire business model seems to be based on a recently introduced $10 monthly subscription, which it’ll have to hope has enough buy-in to offset the huge computing costs. European funds should focus on deeptech sectors with proven paths to growth and undisputed impact, such as clean tech, robotics and biotech.
