King Of Luxury Bernard Arnault Goes AI Shopping, Channelling Over $300M In AI Startups As LVMH Navigates Market Challenges
Portfolio Pulse from Benzinga Neuro
Bernard Arnault, CEO of LVMH, has invested over $300 million in AI startups through Aglaé Ventures, amid challenges faced by LVMH. These investments come as LVMH's shares declined after disappointing earnings, impacting Arnault's wealth.
August 21, 2024 | 9:31 am
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LVMH's CEO Bernard Arnault is investing heavily in AI startups through Aglaé Ventures, with over $300 million channeled into these ventures. This move comes as LVMH's shares have declined following disappointing earnings, affecting Arnault's wealth.
Arnault's significant investment in AI startups suggests a strategic pivot to leverage technology for future growth, potentially boosting investor confidence in LVMH despite recent share declines.
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