Venture investors at Fortune’s Brainstorm AI conference acknowledged froth in AI markets but argued that 'bubbles' channel talent and capital into new technology frontiers. Steve Jang and Cathy Gao said market heat accelerates infrastructure and model development that universities and spinouts can leverage for commercialization. Panelists urged focus on infrastructure plays—chips, specialized models and data pipelines—areas where academic labs and university incubators can partner with startups and VCs. The investors framed short‑term valuation risk as a necessary part of seeding longer‑term research applications. For research offices, the implication is an opening: heightened VC interest can accelerate tech transfer and faculty spinouts, but institutions must guard against speculative partnerships and ensure IP and equity terms protect campus interests.