Bernard Arnault’s family office, under LVMH CEO, makes investment in AI startups

Luxury king Bernard Arnault, the CEO of LVMH (Louis Vuitton Moët Hennessy) and the world’s fourth-richest person, is making headlines with his recent investments in artificial intelligence (AI) companies. Arnault, with a staggering net worth of $184 billion, is not just known for his luxury empire but also for his keen interest in technology and innovation.

Through his tech-focused venture firm and family office, Aglaé Ventures, Arnault has made five AI-related investments in 2024 alone, totaling more than $300 million, according to data provided exclusively to CNBC by Fintrx, a private wealth intelligence platform. These investments include a $220 million funding round in a French startup called H, which is working towards full artificial general intelligence. H was founded by former members of Google’s DeepMind AI unit and has garnered attention from investors such as Accel Partners LP and Wendy and Eric Schmidt.

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But Arnault’s interest in AI doesn’t stop there. Aglaé Ventures has also invested in companies like Lamini, Proxima, Borderless AI, and Photoroom, among others. These investments signal Arnault’s strategic focus on cutting-edge technology and innovation in various sectors, expanding beyond the realm of luxury goods that LVMH is known for.

Arnault’s track record of successful tech investments dates back to the 1990s when he backed startups like Netflix, Spotify, and Airbnb. His dedication to supporting innovative ventures aligns with his values of creativity, quality, and an entrepreneurial spirit. Arnault’s vision for the future of technology and luxury intertwines seamlessly, making him a key player in the ever-evolving landscape of business and innovation.

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