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Venture capitalists are pushing a lot of cash into artificial intelligence and machine learning technologies, more than doubling the investment into virtual reality technologies in 2016, according to PitchBook data via the National Venture Capital Association.

Why it matters: U.S. investors want an edge on the development of next-generation technologies that center around AI, including self-driving cars. Other countries such as China are also charging ahead.

Expand chart
Data: PitchBook; Chart: Chris Canipe / Axios

President Trump yesterday told venture capitalists and emerging tech company execs that his administration wants to help "unleash the next generation of technological breakthroughs that will transform our lives and transform our country, and make us number one in this field." The White House gathering was largely focused on drones, 5G wireless technologies and connected devices.

Big bets: AI technologies have also captured the mindshare of the biggest tech companies such as Google, Facebook and Amazon who are investing a lot of research and development resources into machine learning, deep learning and neural networks. AI-related technologies are at the core of emerging systems like self-driving cars. In 2016, there were 322 deals worth a total of $3.6 billion in investment into AI and machine learning companies, compared with only 31 such deals in 2007.

Virtual reality and augmented reality are also attracting investments, but those applications are seen as more narrowly tailored for specific uses, as opposed to the mass adoption potential seen for AI. There were 99 deals worth a total of $1.485 billion in this area in 2016, up from 23 deals in 2007.

Go deeper

Live list: The "Facebook Papers" arrive

Illustration: Annelise Capossela/Axios

Reports based on leaked whistleblower documents from Facebook, known as the Facebook Papers, appeared in a broad range of news outlets Monday, shedding light on what company knew about harms caused on its platform and how it handled that information.

Why it matters: The reports paint a detailed picture of Facebook's efforts over the years to grapple with major problems — from hate speech to inciting violence — while continuing to pursue its business objectives.

U.S. will now allow private citizens to sponsor Afghan refugees

A family boards a bus at the airport that will take them to a refugee processing center after being evacuated from Kabul. Photo: Anna Moneymaker/Getty Images

Americans wanting to help vulnerable Afghan refugees now have a new way to get involved through a new U.S. private refugee sponsorship program announced Monday.

  • Groups of at least 5 adults can apply, complete background checks and start fundraising the $2,275 per refugee required.

Why it matters: It’s a big shift in the U.S refugee process, which has long relied on non-profits.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

What we’re watching during the final countdown to COP26

Illustration: Eniola Odetunde/Axios

This is shaping up as a critical week for climate policy in the U.S. and worldwide.

Driving the news: Democrats are in the final stages of trying to craft the big social spending and climate package they're trying to move on a thread-the-needle party-line vote.

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