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Africa Startups Turn Inward as US AI Boom Drains Venture Capital

Takeaways by Bloomberg AISubscribeAfrican startups are rewriting their funding playbook as the global artificial intelligence boom pulls venture capital toward the US, forcing emerging markets to compete for cash.AI-related VC investment doubled to $259 billion last year from 2023, with three-quarters of it flowing to US companies. That’s prompting founders from across Africa to turn to domestic sources such as development-finance institutions, pension funds, debt providers and local VCs....

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