Aside from pushing stocks to all-time highs, the artificial intelligence boom is also giving private equity funds a boost by thawing the frozen IPO market and providing much-needed liquidity. However, AI is also creating what senior industry figures describe as a "frothy" investment landscape in some corners of the market, making it harder to identify the next crop of startups to invest in. The end of the zero-interest-rate era in 2022 brought the M & A and IPO markets — the industry's primary exit paths — to a virtual standstill. Without a steady flow of cash returning from successful investments, investors in private equity funds like pension funds and endowments have grown reluctant to commit capital to new funds. "One of the big challenges in private equity right now [is] a lack of mon

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