FAP, May 31 / PRNewswire-FirstCall-Asianet /-- artificial intelligence (AI) is rapidly becoming a buzzword for investment bankers and private equity firms looking for deals, but any independent AI IPO is likely to wait until next year. However, Ted Smith, co-founder and president of Union Square Advisors, a technology-focused investment bank, says Nvidia's success is in sharp contrast to many developing AI companies whose financial models are not robust enough for IPO. "companies in this field are doing something very cool, interesting and valuable, but they still only have single-digit or low-double-digit revenue," Smith said. He thinks AI IPO is "2024". So far this year, listed companies in the United States have raised $10 billion through IPO, down 94% from the same period in 2021 and nearly half from the same period last year, according to media data. The new IPO market has been in the doldrums since the end of 2021, with corporate spin-offs and low-priced stocks accounting for the majority of new entrants this year. (Bloomberg)