Facing intense competition, AI‑focused startups are adopting a dual‑valuation funding structure that lets lead investors buy shares at a lower price while other investors pay a higher, headline‑making price. The approach lets companies brand themselves as unicorns even though a sizable portion of equity was purchased at a lower valuation. Recent rounds at Aaru and Serval illustrate the tactic, which analysts say can attract talent and customers but also raises the risk of future down rounds and investor disappointment. Read more →