Silicon Valley’s new buyout playbook is hitting Wall Street

Teona Gherasim

Venture capital is buying its way into the artificial intelligence transformation that enterprise software hasn't delivered. Instead of selling AI tools to companies, venture firms are buying legacy companies outright and rebuilding them around AI from the inside. The bet puts VCs on offense and leaves traditional private equity, which spent the last cycle buying enterprise software at peak prices, on defense. In Silicon Valley, the strategy is known as the AI rollup. Over the past six months

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