A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide for high-net-worth investors and consumers. Sign up to receive future editions delivered directly to your inbox. Billionaire former Google CEO Eric Schmidt is known as the “AI Whisperer” for his widespread predictions and warnings about artificial intelligence. Behind the scenes, however, Schmidt’s family office has been making dozens of bets on private artificial intelligence startups. Schmidt’s family office Hillspire has invested in 22 private artificial intelligence companies since 2019, according to data provided exclusively to CNBC by private wealth intelligence platform Fintrx. Last year alone, Hillspire made 13 investments in artificial intelligence startups, accounting for more than three-quarters of all Schmidt’s investments in startups. The amount of those investments was not disclosed, so it’s unclear how much Schmidt invested in each company. Some of these investments are follow-on investments in the same company. However, the 22 companies Schmidt has invested in since 2019 have raised more than $5 billion in total, according to Fintrx data. Schmidt’s bets include some of the biggest artificial intelligence startups, including Anthropic, Holistic AI and SandboxAQ. They also include smaller companies such as Swiss startups Optiml, Altera and Inworld AI. Schmidt has become one of the leading evangelists of artificial intelligence, co-authoring one of the defining books on the technology, The Age of Artificial Intelligence, with Henry Kissinger and Daniel Huttenlocher. He is also a leading spokesman for the potential dangers of artificial intelligence. Schmidt told ABC News late last year that when computers can learn and do everything, “that’s a dangerous point. When a system can improve itself, we need to seriously consider unplugging it.” Forbes reported this month that Hillspire also funded Hooglee, an artificial intelligence startup focused on video and social media. Hooglee’s website states that its “mission is to transform the way people connect through the power of artificial intelligence and video.” While Schmidt has been a longtime tech leader, he’s not the only family office interested in artificial intelligence. A UBS survey shows that artificial intelligence is now the top investment theme for family offices. According to the UBS Global Family Office Report, more than three-quarters (or 78%) of family offices surveyed plan to invest in artificial intelligence in the next two to three years – the most investment of any category. The following is Hillspire’s investment list of artificial intelligence startups:
Eric Schmidt, former chairman and CEO of Google.
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A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide for high-net-worth investors and consumers. Sign up To receive future editions delivered directly to your inbox.
Billionaire Eric Schmidt Former CEO GoogleKnown as the “AI Whisperer” for his extensive predictions and warnings about artificial intelligence.
