Billionaire Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs, has made headlines with her latest investment in a new artificial intelligence “computing device,” signaling her growing interest in AI startups. The Emerson Collective, Powell Jobs’ investment and philanthropy firm, has backed at least 11 AI-related startups since 2022, according to data from Fintrx, a private wealth intelligence platform.
The investments made by Emerson Collective in the AI sector span across different regions and industries. From a New York-based AI medical company to a French developer of large language models, Powell Jobs has been diversifying her portfolio within the AI space. While the exact dollar amounts of these investments have not been disclosed, data from Fintrx shows that the Emerson Collective has participated in AI funding rounds totaling more than $1 billion.
Powell Jobs, with a net worth of $11.5 billion, has been focusing on areas like education, the environment, and healthcare through Emerson Collective. The firm has made over 130 investments in total, with technology accounting for more than half of their investments. Raffi Krikorian, a former executive at Uber and Twitter, serves as Emerson’s chief technology officer.
In a recent report, it was revealed that Jony Ive, the renowned Apple designer, is teaming up with OpenAI CEO Sam Altman to create a new AI-powered “computing device,” aiming to raise up to $1 billion by the end of the year. The Emerson Collective, alongside Ive, is one of the founding investors in this venture. This move comes at a time when AI has become the most popular investment theme for family offices in 2024, with 78% of family offices planning to invest in AI in the next two to three years, according to the UBS Global Family Office Report.
Powell Jobs’ early investments in AI, even before the launch of OpenAI’s ChatGPT, have paid off with successful funding rounds for companies like Proximie and Atropos Health. With her continued focus on AI startups and notable investments in companies like Formation Bio and Mistral, Powell Jobs is solidifying her presence in the AI space.
Overall, Powell Jobs’ growing investments in AI startups showcase her commitment to innovation and technology, with potential implications for the industry and consumers alike. As AI continues to shape various sectors, Powell Jobs’ strategic investments in this space could have far-reaching effects on the future of technology and entrepreneurship.
