AnalysisBusinessJuly 28, 2026

Open-Weight Backers Stand to Profit, Says Sapphire Ventures

Sapphire Ventures partner Cathy Gao says AI's next value wave comes from industry-specific apps — healthcare, real estate, legal — not another foundation model. She says open-weight backers stand to profit and explains why Nvidia's recent letter didn't surprise her.

People · Cathy Gao

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