# The Series B Is Becoming the Most Dangerous Round in AI

- slug: the-series-b-is-becoming-the-most-dangerous-round-in-ai
- date: 2026-04-24
- category: Artificial Intelligence

Q1 2026: $297B in VC with 81% to AI. But the mid-stage startup — not the solo founder — is the one getting crushed. Series B multiples dropped from 30x to 15-20x ARR while a single developer with a $20 API key can now build what required a full company two years ago.

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