Seligman Ventures doubles war chest to $1B to bet on AI hardware

What's the deal? Seligman VenturesDealroom has a profile for this one. Try Dealroom → has doubled its capital to $1 billion, positioning the firm to back startups riding the artificial intelligence boom. The expanded venture fund reflects renewed investor appetite for hardware bets.

Why now? The surge in AI demand has revived interest in the hardware layer underpinning the technology. Seligman is scaling up as capital flows back into a sector that had long been overshadowed by software.

What's the endgame? The firm plans to deploy the fund into AI startups. A key test, it says, is whether a startup can withstand competition from established players.

The signal: The doubling of Seligman's fund underlines how the AI wave is pulling money back toward hardware, a corner of tech that fell out of favour as software dominated venture portfolios.

Read more: Reuters

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