Ash Fontana Contributor

Ash Fontana, a managing director at Zetta Ventures, is the author of “The AI-First Company: How to Compete and Win with Artificial Intelligence.” More posts by this contributor Growing up in the intelligence era

Investors in AI-first technology companies serving the defense industry, such as Palantir, Primer and Anduril, are doing well. Anduril, for one, reached a valuation of over $4 billion in less than four years. Many other companies that build general-purpose, AI-first technologies — such as image labeling — receive large (undisclosed) portions of their revenue from the defense industry.

Investors in AI-first technology companies that aren’t even intended to serve the defense industry often find that

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