A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Luxury king Bernard Arnault is shopping for AI companies.
Arnault, founder and CEO of LVMH and the world’s fourth-richest person with a net worth of $184 billion, has made a string of artificial intelligence investments this year through his tech-focused venture firm and family office, called Aglaé Ventures.
Aglaé made five AI-related investments in 2024, according to data provided exclusively to CNBC by Fintrx, the private wealth intelligence platform. While the amounts of Aglaé’s investments aren’t disclosed, the funding rounds for the AI firms totaled more than $300 million, according to Fintrx.
The largest funding round this year, according to Fintrx, was in a firm called H, formerly known as Holistic AI, a French startup that’s working toward full artificial general intelligence. It was founded by former members of Google’sDeepMind AI unit and includes …