Luxury king Bernard Arnault, the founder and CEO of LVMH, has been making waves in the tech world by investing in artificial intelligence companies. With a net worth of $184 billion, Arnault has been exploring the realm of AI through his tech-focused venture firm and family office, Aglaé Ventures. This move showcases Arnault’s forward-thinking approach and willingness to diversify his investment portfolio beyond the traditional luxury market.
In 2024 alone, Aglaé Ventures made five significant AI-related investments, totaling more than $300 million. One of the standout investments was in a French startup called H, which focuses on developing full artificial general intelligence. The $220 million funding round in May valued H at $370 million and included investors such as venture firm Accel Partners LP and former Google CEO, Eric Schmidt.
Another noteworthy investment by Aglaé Ventures was in Lamini, a Palo Alto-based startup specializing in enterprise AI applications. Additionally, the family office participated in funding rounds for Proxima, a New York-based AI-powered digital marketing company, and Borderless AI, a Toronto-based human resource management platform. These investments highlight Arnault’s strategic approach to AI and his interest in diverse tech sectors.
Apart from AI investments, Aglaé Ventures has a diverse portfolio that includes investments in technology, consumer goods, business services, and financial services. With a total of 153 investments since 2017, the family office has shown a keen interest in supporting innovative startups across various industries. Notable investments include digital health platform Noom and music creation app World Music Media, showcasing Aglaé Ventures’ broad investment strategy.
Despite being synonymous with luxury craftsmanship and historic brands, Bernard Arnault has also demonstrated a passion for technology. His early investments in successful tech startups like Netflix, Spotify, and Airbnb highlight his ability to identify promising opportunities in the tech sector. Arnault’s belief in the “startup mentality” aligns with his values of creativity, quality, and entrepreneurship, making him a significant player in the tech investment landscape.
Bernard Arnault’s foray into AI investments with Aglaé Ventures signals a new chapter in his illustrious career as a businessman and investor. By diversifying his portfolio and exploring emerging technologies, Arnault is positioning himself at the forefront of innovation and disruption. As he continues to navigate the evolving tech landscape, Arnault’s strategic investments in AI and other tech sectors will undoubtedly shape the future of his investment empire.
Through his ventures into AI and tech, Bernard Arnault is not only expanding his investment horizons but also leaving a lasting impact on the tech industry. His ability to bridge the world of luxury and technology underscores his versatility and foresight as an investor. As Arnault’s AI investments continue to evolve, all eyes will be on him as he navigates the ever-changing landscape of tech innovation and disruption.