AI Now: '6-Month-Old Valuation Doubles'... Lovable, VC Pouring into 'Vibe Coding' Frenzy

Global venture capital is pouring into the 'vibe coding' market, where users create websites and applications with natural language prompts. Swedish startup Lovable has secured a $3 billion investment, valuing the company at $13.2 billion—double its previous valuation. This round, led by Menlo Ventures, highlights growing competition in AI-driven software development. Lovable, founded by CEO Anton Osika and CTO Fabian Hedén, achieved $500 million annual recurring revenue (ARR) in June 2024. The platform empowers non-developers to rapidly prototype web stores, internal apps, and workflows, attracting enterprise clients like Workday, Asana, and NVIDIA. Investors view Lovable as a transformative platform that integrates AI to streamline software development by replacing traditional multi-stage workflows with natural language prompts.