Despite fears of an artificial intelligence bubble causing turmoil in the stock market, investment firms affiliated with ultra-wealthy families continue to make bullish bets on high-flying AI startups. In February, family offices made 41 direct investments in companies, with nearly all associated with AI technology. Notable investments include Laurene Powell Jobs’ Emerson Collective joining a $1 billion fundraise for AI developer World Labs and Azim Premji’s family office participating in a $315 million Series E round for Runway, an AI video generation startup. Overall, AI-related startups raised a record $171 billion in February, with notable rounds by Anthropic, OpenAI, and Waymo. Hillspire, the firm of ex-Google CEO Eric Schmidt and his wife, Wendy, also invested in a startup aimed at improving AI models and understanding their workings. Despite concerns about a bubble, industry experts remain optimistic about the long-term economic potential of AI investments.