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AI Fears, European Unicorns, and India's AI Summit

India is hosting a four-day AI Impact Summit this week, attracting major players in the artificial intelligence field and signaling the country's push to become a global AI hub. The event, which expects 250,000 visitors, includes executives from leading AI labs and Big Tech companies, as well as heads of state, and comes as India earmarks 1.1 billion for a state-backed venture capital fund focused on AI and advanced technologies.

The summit, which began this week, features prominent figures such as Alphabet CEO Sundar Pichai, OpenAI CEO Sam Altman, and Anthropic CEO Dario Amodei, according to TechCrunch. Indian Prime Minister Narendra Modi is scheduled to deliver a speech with French President Emmanuel Macron on Thursday. This event highlights India's commitment to attracting more AI investment to the country.

Meanwhile, the enthusiasm for AI is evident in other areas as well. Andreessen Horowitz partner Gabriel Vasquez took nine flights from NYC to Stockholm in one year, seeking out future Swedish unicorns, according to TechCrunch. This included a pre-seed round into Dentio, a Swedish startup using AI for dentists' admin work. This confirms that U.S. VCs are actively seeking deal flow outside of the U.S.

However, not all AI ventures are experiencing immediate success. Fractal Analytics, India's first AI company to IPO, had a muted debut on the public markets, according to TechCrunch. The stock listed below its issue price and closed down, lending the company a market capitalization of about 1.6 billion, a step down from its recent private-market highs.

In other AI news, Flapping Airplanes, a research-focused AI lab, is focused on finding less data-hungry ways to train AI, according to TechCrunch. The lab has secured 180 million in seed funding. "We want to try really radically different things," said one of the co-founders.

These developments come as the latest news bulletins from February 16th, 2026, cover a range of global events, including business and world news, according to Euronews.

AI-Assisted Journalism

Synthesized from multiple sources. Reviewed for accuracy.

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