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A version of this article appeared for the first time in Inside Wealth Newsletter of CNBC with Robert Frank, a weekly guide to the investor and consumer with high shuttle. Register To receive future editions, directly in your reception box.
Ultra-rich investment companies, such as Jeff Bezos’ family office, make headlines with massive fundraising for artificial intelligence startups.
At the end of last month, Bezos expeditions co-directed a round of $ 405 million for the Robotic startup Field IA with donors, including the Emerson collective from Laurene Powell Jobs. In the past six months only, Hillspire, the family office of billionaire Google Eric Schmidt, supported at least six AI startups, according to data provided exclusively to CNBC by FINTRX, a private wealth intelligence platform.
But while technological unicorns obtain most of the buzz, family offices prefer to invest in AI boom via public actions, according to a recent survey of Goldman Sachs. The banking of the bank with 245 family offices from around the world revealed that 52% is exposed to AI through public shares or primary FNB, while a quarter said it was invested directly in AI startups.
Meena Flynn of Goldman Sachs declared within the wealth that family offices probably have an even greater exhibition thanks to actions than.
“The first nine out of 10 of S&P actions are AI-centered stories, and they represent 40% of the S&P,” said Global Private Wealth Management Co-chef.
Flynn partially attributed the preference for AI actions to more temperate assessments on public procurement.
“If you look in the past five years and look at the evaluation differences between private markets and public procurement, private markets really need to become evaluations that some of the members [general partners] Entered, “she said.” People, I think, have more confidence in public procurement from the point of view of evaluation. “”
Family offices were also more likely to declare investments in companies that operate AI for productivity and efficiency (38%) or secondary beneficiaries of AI BOOM, such as energy suppliers (32%) than IA startups. (Respondents were authorized to choose several answers). The report noted that 27% of family offices planned to be overweight for energy and material companies on public and private markets over the next 12 months.
Respondents, two thirds of whom said managed at least $ 1 billion in assets, were interviewed from May 20 to June 18. Almost nine out of 10 have declared a form of investment in AI. Only 5% said they did not plan to invest in space.
Family offices are not known for their technology know-how, Deloitte estimating the average age of families at 68 years old. But Jean Altier de Goldman Sachs said that they quickly warned AI because he became omnipresent in daily life, unlike other new technologies such as blockchain. She gave the example of the Google AI search function.
“It’s already part of people’s lives,” said the world leader in managed strategies. “I think that the native exhibition of people at AI occurred much faster than certain other technological innovations.”
Despite the preference of respondents for public actions, Flynn noted that access to more opportunities requires investing in private markets.
“There are about 800 unicorns at the moment. If you suppose the rate of exit of the historic upright on the historic scholarship per year, it would take 12 years to erase the backwards against four pre-Pandemic years,” she said.