AI Investors Predict Valuation Normalization Within Two Years

At Web Summit Qatar this week, AI founders and venture investors pushed back against a reported $1 trillion rout in U.S. software stocks, arguing AI will augment—not replace—SaaS and that valuations, while stretched, will normalize. Speakers including Glean founder Arvind Jain and Miro founder Andrey Khusid cited profitability and private-market preferences, discussed IPO timing for OpenAI and Anthropic, and noted more than $340 billion chased startups in 2025, with 65% flowing to AI.