According to a report by CNBC, Bernard Arnault, the founder and CEO of luxury goods company LVMH and the fourth-richest person in the world, has made multiple investments in artificial intelligence (AI) companies. His family office, Aglaé Ventures, has reportedly invested in five AI-related companies in 2024. These investments include H, formerly known as Holistic AI, a French startup; Lamini, a California-based startup focused on enterprise AI applications; Proxima, a New York-based AI-powered digital marketing company; Borderless AI, a Toronto-based human resource management platform; and Photoroom, an AI image editor based in France. However, the exact amounts invested have not been disclosed. Aglaé Ventures had also participated in four funding rounds for Paris-based company Meero between 2017 and 2019.

In total, Aglaé Ventures has made 153 investments since 2017, with 53 of them in the technology sector. Arnault has a successful track record of investing in tech startups, having previously invested in Netflix, Spotify, and Airbnb. On a broader scale, major investments in AI firms contributed to American venture funding reaching its highest quarterly total in two years, with VC investments totaling $55. 6 billion in the second quarter. Tech giants are also increasing their investments in AI. For example, Photoroom, one of the AI firms in which Aglaé Ventures invested, has garnered over 150 million downloads since its 2019 launch and recently partnered with Genesis Cloud to test the compatibility of green computing with advanced AI development.