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Russian Cybersecurity Firm Kaspersky to Exit US

3D printed models of people working on computers and padlock are seen in front of a displayed Kaspersky logo in this picture illustration taken, February 1, 2022. REUTERS/Dado Ruvic/File Photo Purchase Licensing Rights
3D printed models of people working on computers and padlock are seen in front of a displayed Kaspersky logo in this picture illustration taken, February 1, 2022. REUTERS/Dado Ruvic/File Photo Purchase Licensing Rights
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Russian Cybersecurity Firm Kaspersky to Exit US

3D printed models of people working on computers and padlock are seen in front of a displayed Kaspersky logo in this picture illustration taken, February 1, 2022. REUTERS/Dado Ruvic/File Photo Purchase Licensing Rights
3D printed models of people working on computers and padlock are seen in front of a displayed Kaspersky logo in this picture illustration taken, February 1, 2022. REUTERS/Dado Ruvic/File Photo Purchase Licensing Rights

Russia's Kaspersky Labs will leave the United States, according to a pop-up seen by users on the anti-virus software maker's US website, nearly a month after the Biden administration announced plans to bar sales of the company in the country.

Last month, US Commerce Secretary Gina Raimondo announced plans to bar the sale of anti-virus software made by Kaspersky in the country, citing security risks posed by Russia's influence on the cybersecurity company.

Kaspersky did not immediately respond to a Reuters request for comment.

The government also slapped sanctions in June on Kaspersky's senior leadership, including the chief business development officer, chief operating officer, legal officer and corporate communications chief, citing cybersecurity risks.

CNN on Monday reported that Kaspersky Labs will "gradually wind down" its US operations and lay off US-based employees, starting July 20.

Kaspersky's US website did not allow consumers to purchase any products, citing "purchase is unavailable for US customers".

The new restrictions by the US government on inbound sales of Kaspersky software, which would bar downloads of software updates, resales and licensing of the product, will come into effect on Sept. 29.

New US business for Kaspersky are to be blocked 30 days after the restrictions were first announced on June 20.

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AI Startup Funding More than Doubles in Q2, Crunchbase Data Shows

Nao robots of the Nomadz team, programmed by the ETHZ and Insait Bulgaria, play a game of soccer during the AI for Good Global summit on artificial intelligence, organised by the International Telecommunication Union (ITU), in Geneva, Switzerland, May 30, 2024. REUTERS/Denis Balibouse/File photo Purchase Licensing Rights
Nao robots of the Nomadz team, programmed by the ETHZ and Insait Bulgaria, play a game of soccer during the AI for Good Global summit on artificial intelligence, organised by the International Telecommunication Union (ITU), in Geneva, Switzerland, May 30, 2024. REUTERS/Denis Balibouse/File photo Purchase Licensing Rights
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AI Startup Funding More than Doubles in Q2, Crunchbase Data Shows

Nao robots of the Nomadz team, programmed by the ETHZ and Insait Bulgaria, play a game of soccer during the AI for Good Global summit on artificial intelligence, organised by the International Telecommunication Union (ITU), in Geneva, Switzerland, May 30, 2024. REUTERS/Denis Balibouse/File photo Purchase Licensing Rights
Nao robots of the Nomadz team, programmed by the ETHZ and Insait Bulgaria, play a game of soccer during the AI for Good Global summit on artificial intelligence, organised by the International Telecommunication Union (ITU), in Geneva, Switzerland, May 30, 2024. REUTERS/Denis Balibouse/File photo Purchase Licensing Rights

Investments in artificial intelligence (AI) startups surged to $24 billion from April to June, more than doubling from the previous quarter, according to data from Crunchbase, highlighting the growing appetite for the new technology.

Overall startup funding grew 16% sequentially to touch $79 billion in the last quarter, primarily driven by investments in AI, which became the largest sector for the first time, followed by healthcare and biotech, Reuters reported.

The runway success of OpenAI's ChatGPT has unleashed a race to adopt the latest AI technology in areas such as business productivity, healthcare, and manufacturing. Investors and Big Tech firms, however, say that meaningful gains from their massive investments in AI will only materialize over the next few years.

Despite last quarter's uptick, startup funding remains low compared to the levels seen in the past three years.

Global funding declined 5% to $147 billion in the first half of the year and was flat compared to the second half of 2023, according to Crunchbase.

A tight monetary policy in the US has contributed to a slow revival in initial public offerings, hampering what is among the biggest sources of returns for institutional private market investors, who typically invest in startups and sell shares during IPOs.