These 11 AI startups are the ones that Laurene Powell Jobs is placing her bets on.
- Since 2022, Fintrx has exclusively provided CNBC with data showing that Laurene Powell Jobs' Emerson Collective has invested in at least 11 AI-related startups.
- Emerson's primary areas of focus are education, the environment, and health care. As per Fintrx, Emerson has made over 130 investments in total, with more than half in technology.
- According to Fintrx, the Emerson Collective has invested over $1 billion in AI funding rounds.
The original article was published in CNBC's Inside Wealth newsletter with Robert Frank, providing a weekly guide for high-net-worth investors and consumers. To receive future editions, subscribe and have them delivered directly to your email inbox.
According to new data, Laurene Powell Jobs' investment in a new artificial intelligence "computing device" indicates her growing interest in AI startups.
Since 2022, The Emerson Collective, Powell Jobs' family office, investment company and philanthropy, has invested in at least 11 AI-related startups, according to exclusive data from Fintrx, a private wealth intelligence platform.
Emerson's AI bets encompass the world and various sectors, including a New York-based AI medical company, a San Jose, California-based image analyzer, a French developer of large language models, and a Norwegian creator of AI presentations utilized by educators.
According to Fintrx, the Emerson Collective has invested more than $1 billion in AI funding rounds.
A representative for the Emerson Collective declined to comment.
The total assets under management of Emerson are not disclosed. According to the Bloomberg Billionaires Index, Powell Jobs, the philanthropist, investor, and widow of Apple co-founder Steve Jobs, has a net worth of $11.5 billion.
Emerson's primary areas of focus are education, the environment, and health care. Finxtrx reports that Emerson has made over 130 investments in total, with more than half in technology, 48 in health care and life sciences, and the rest in energy, agriculture, education, human services, media, and other categories. Raffi Krikorian, a former executive at Uber and Twitter, serves as Emerson's chief technology officer.
Jony Ive, the renowned Apple designer who collaborated with Steve Jobs and departed from the company in 2019, is joining forces with OpenAI CEO Sam Altman to develop a new "computing device" for AI applications. Their venture aims to secure up to $1 billion in funding by the year's end, with the Emerson Collective and Ive among its initial investors, as reported by The New York Times.
In 2024, AI has emerged as the most popular investment theme among family offices, with 78% of those surveyed planning to invest in it in the next two to three years, according to the UBS Global Family Office Report.
Powell Jobs invested in AI before OpenAI launched ChatGPT, and in June 2022, Emerson invested $80 million in Proximie, an AI-powered health tech company. In August 2022, Emerson also invested $14 million in Atropos Health, another AI-driven healthcare company.
Emerson invested in various AI startups globally, including a $4.6 million seed round for Curipod and a $415 million Series A round for Mistral.
Emerson has recently invested in two AI companies: Formation Bio, which raised $372 million in June, and Atropos, which received a $33 million follow-on round.
Business News
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