The world-renowned luxury king, Bernard Arnault, founder and CEO of LVMH, has not only conquered the world of high-end fashion and exclusive brands, but he is also making a significant impact in the artificial intelligence (AI) industry. With a net worth of $184 billion, Arnault has been on a shopping spree for AI companies through his tech-focused venture firm and family office, Aglaé Ventures.
Aglaé Ventures, the investment arm of Bernard Arnault, has made several AI-related investments in the year 2024. These investments have been aimed at companies focused on cutting-edge technology and innovation in the AI space. One notable investment was in H, a French startup formerly known as Holistic AI, which is working towards achieving full artificial general intelligence. This investment, valued at $220 million, has put H at a market value of $370 million.
Apart from H, Aglaé Ventures has also invested in other AI startups such as Lamini, Proxima, Borderless AI, and Photoroom. These investments have contributed to the growth and development of companies that are at the forefront of AI applications and technologies. Aglaé Ventures’ strategic investments have not only provided financial backing but have also paved the way for innovation and creativity in the AI sector.
While Aglaé Ventures is primarily known for its luxury investments, the foray into the AI industry showcases its willingness to diversify its portfolio. With a total of 153 investments since 2017, Aglaé Ventures has not shied away from exploring various sectors such as technology, consumer goods, business services, and financial services. This diversification strategy has enabled Aglaé Ventures to stay ahead of the curve and capitalize on emerging trends in the market.
Bernard Arnault’s vision for the future is not limited to the world of luxury craftsmanship and historic brands. His passion for technology and innovation has led him to be an early investor in successful tech startups such as Netflix, Spotify, and Airbnb. Arnault’s dedication to creativity, quality, and entrepreneurship is reflected in his investment philosophy, where he seeks to support startups that align with his values and vision for the future.
Luxury king Bernard Arnault’s foray into the AI industry through Aglaé Ventures showcases his strategic vision and willingness to embrace technological advancements. By investing in cutting-edge AI startups, Arnault is not only diversifying his investment portfolio but also shaping the future of the AI industry. As a visionary leader in both the luxury and tech sectors, Arnault’s influence is sure to have a lasting impact on the evolving landscape of innovation and entrepreneurship.