tech stocks rebounding, but as Morgan Stanley has said, I know this morning investors should prepare to be fooled many more times.

Deirdre Bosa looks at a pocket of tech that's been more stable over the last few weeks for tech.

I didn't know that such a thing existed, Deirdre.

Well, at least more insulated, and that would be the startup ecosystem.

It has really been this bright spot amid pressure on mega caps.

And American exceptionalism, this debate, of course, which tech is central to.

Now, over the last few days, some enormous moves among AI startups that if they were public companies,

would be all over our air. Ex-open AI CTO, Miram Radi, she is reportedly raising a $2 billion seed round, an evaluation of

$10 billion or more. Just to put that in perspective, that is the seed round larger, the round

itself larger than the entire market cap of once-darling public tech companies like Bumble and Fastly.

And this is a startup that hasn't even launched a product yet. Then there is ex-open AI co-founder Ilius Setskever.

His year-old AI startup was just valued at $32 billion, more than double the size of snap,

and a few billion behind Robin Hood.

Also no product, but a signal that in this AI wave, that signal that in this AI wave,

talent and ambition they are being priced

like proven scale.

And OpenAI, of course, the poster child of that scale.

At a TED event over the weekend, Sam Altman let slip that one in 10 people globally now use

its systems.

That would suggest a doubling of its user base to 800 million in just a few weeks.

Capital, meanwhile, that continues to flow into this ecosystem, supporting ever-growing

valuations.

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