Seligman Ventures, the venture arm of Seligman Investments, has doubled its deployable capital to $1 billion less than a year after launching in February 2026 with $500 million. The firm focuses on AI hardware and infrastructure, investing in companies like Cerebras Systems, Nuro, SambaNova, Lumilens, and Eliyan. Managing partner Umesh Padval said deal flow has been 10 to 15 times higher than expected, with over $300 million already deployed across 14 investments.
The push into AI hardware reflects a broader belief that physical bottlenecks, such as chip capacity, networking, and data center power, will create the next wave of major technology companies. Venture investment in US and Canadian startups hit a record $392 billion in the first half of 2026, with $10.7 billion going to semiconductor startups. Seligman Ventures expects to make five to ten new investments over the next 12 months.
In the public markets, Goldman Sachs reports that gains in large-cap AI stocks are masking broader weakness in the S&P 500. The median stock in the index is trading 16% below its 52-week high, and market breadth is at its lowest level since the dot-com bubble. Goldman's sentiment indicator has fallen to -0.9, matching its March low, though the firm sees potential for catch-up rallies if macroeconomic uncertainty eases.
Meanwhile, research is raising questions about the practical value of reasoning features in AI models. A study testing LLMs from DeepSeek, GPT, and Gemini found that additional reasoning during inference did not reliably improve net portfolio returns after trading costs. For DeepSeek, performance was nonmonotonic across the reasoning spectrum, and repeated generations produced unstable results even when scores remained similar. The study analyzed over 800,000 asset predictions across a full year of U.S. equities.
Safety concerns around AI are also creating ripples in the IPO market. Reports indicate that security worries are raising questions about upcoming IPO plans for Anthropic and OpenAI. Dario Amodei, CEO of Anthropic, addressed the United Nations on the topic, and researchers have found evidence that AI models can behave badly and go rogue, leaving investors to navigate liability questions.
On the product side, OpenAI is collecting real stories from builders and creators using its Codex tool through a new program called Codex Originals. Interested users can fill out a form on OpenAI's website to share their projects. Separately, researchers warn that cheap open-weight models paired with open-source agentic frameworks may allow autonomous agents to pollute Large Language Model data. A comparison of nine agent configurations found that fully open agents performed competitively with commercial ones but failed different detection checks.
Accenture is facing an earnings test as AI threatens its consulting growth. Investors worry that enterprise IT spending has slowed as companies evaluate AI, and the company's 2027 outlook will be a key focus when it reports fiscal fourth-quarter earnings. In a separate survey, about one in four Americans reported using an AI chatbot for a financial question, though experts warn that chatbots lack knowledge of a person's actual financial situation and should be treated as educational tools only.
Hedge fund managers are also finding opportunities in the volatility surrounding AI and energy. Dispersion trades have emerged amid optimism around Meta's Muse AI agent and concern that rapid AI growth could harm businesses. Treasury yields reached their highest in two decades, and single-stock implied volatility has contracted since late July, making the trade more attractive.
Looking internationally, the second EU-GCC Summit will be held in Riyadh on October 24, 2026, focusing on deeper cooperation in trade, investment, AI, and clean energy between the EU and Gulf states. Goods trade between the two sides reached €165.7 billion in 2025, and the EU aims to build more resilient supply chains and digital infrastructure with Gulf partners.
Key Takeaways
- Seligman Ventures doubled its capital to $1 billion in less than a year, investing in AI hardware firms like Cerebras, Nuro, and SambaNova.
- Goldman Sachs warns S&P 500 market breadth is at its lowest since the dot-com bubble, with AI stocks masking broader weakness.
- A study of DeepSeek, GPT, and Gemini models found extra reasoning during inference did not reliably improve trading returns after costs.
- AI safety concerns are raising questions about upcoming IPO plans for Anthropic and OpenAI.
- OpenAI launched the Codex Originals program to collect real user stories from builders and creators.
- Researchers found that open-source AI agents can pollute LLM data and fail different detection checks than commercial agents.
- Accenture faces an earnings test as AI threatens consulting growth, with its 2027 outlook under investor scrutiny.
- About one in four Americans uses AI chatbots for financial questions, though experts warn they lack personal context.
- Hedge funds are pursuing dispersion trades amid AI euphoria, energy volatility, and high Treasury yields.
- The EU-GCC Summit in Riyadh on October 24, 2026, will explore AI cooperation and digital infrastructure with Gulf states.
Seligman Ventures doubles fund to $1 billion for AI hardware bets
Seligman Investments has doubled the deployable capital of its venture arm, Seligman Ventures, to $1 billion less than a year after launching it. The firm believes that physical bottlenecks in the AI buildout will create the next wave of large technology companies. Executives told Reuters about the strategic decision to focus on hardware-related opportunities.
Seligman Ventures doubles capital to $1 billion as AI boom revives hardware bets
Seligman Ventures has doubled its deployable capital to $1 billion less than a year after its launch. The venture arm has invested in companies like AI chipmaker Cerebras Systems and robotics firm Nuro. Executives believe physical bottlenecks in AI, such as the need for specialized hardware, will create major opportunities.
Seligman Doubles Down On AI Hardware With $1 Billion
Seligman Investments has doubled Seligman Ventures to $1 billion to fund the physical infrastructure behind the AI boom, including chips, networking, and data center power. The fund launched in February 2026 with $500 million and has already invested over $300 million across 14 deals. Managing partner Umesh Padval said deal flow has been 10 to 15 times higher than expected. The firm also holds six board seats and three board observer seats in its portfolio companies.
Seligman Ventures doubles capital to $1 billion as AI boom revives hardware bets
Seligman Investments has doubled the deployable capital of its venture arm to $1 billion less than a year after launching it. The move comes as the venture arm, Seligman Ventures, seeks to capitalize on growing demand for AI technologies. The firm has already invested in companies developing AI-powered hardware and software solutions for industries including healthcare, finance, and manufacturing.
Seligman Ventures doubles capital to $1 billion as AI boom revives hardware bets
Seligman Ventures launched in February 2026 with $500 million and has since invested over $300 million across 14 investments in AI hardware, connectivity, and cybersecurity. The firm now has $1 billion in deployable capital. Venture investment in US and Canadian startups hit a record $392 billion in the first half of 2026, with $10.7 billion going to semiconductor startups. Managing partner Umesh Padval expects to make five to ten new investments over the next 12 months.
Seligman Ventures doubles fund to $1B for AI hardware startups
Seligman Ventures, a European venture capital firm, has doubled its capital to $1 billion. The new fund will focus on investing in AI hardware startups. The firm aims to support innovative AI solutions and help companies integrate AI into their operations. This strategy targets the growing demand for AI-powered solutions across various industries.
Seligman Ventures doubles capital to $1 billion for AI infrastructure
Seligman Ventures launched in February 2026 with $500 million and has now doubled its deployable capital to $1 billion. The firm has invested in more than 14 companies, including SambaNova, Lumilens, and Eliyan. The portfolio addresses challenges in AI inference, optical connectivity, and cybersecurity. Managing Partners Umesh Padval and Ashish Kakran lead the firm's investment efforts.
Goldman Sachs: S&P 500 breadth at lowest since dot-com bubble
Goldman Sachs reports that gains in AI stocks are masking broader weakness in the S&P 500. The median S&P 500 stock is trading 16% below its 52-week high. Investor positioning has dropped sharply, widening the gap between large AI stocks and the rest of the market. The firm sees potential for catch-up rallies if macroeconomic uncertainty eases.
Goldman Sachs says AI stocks hide S&P 500 weakness
Goldman Sachs says the rally in large-cap AI stocks is propping up the S&P 500 but market breadth is at its lowest since the dot-com bubble. The index's forward P/E has declined from 22x to 19x. Goldman's sentiment indicator has fallen to -0.9, matching its March low. The firm projects potential catch-up rallies among lagging stocks if uncertainty eases.
Riyadh summit focuses on Gulf-Europe AI and tech investment
The second EU-GCC Summit will be held in Riyadh on October 24, 2026. The two sides will explore deeper cooperation in trade, investment, artificial intelligence, and clean energy. Goods trade between the two sides reached €165.7 billion in 2025. The EU aims to build more resilient supply chains and digital infrastructure with Gulf states.
Accenture faces earnings test as AI threatens consulting growth
Accenture is set to report fiscal fourth-quarter earnings on Thursday. Investors worry that artificial intelligence could reduce demand for its consulting work. Enterprise IT spending has slowed as companies evaluate AI. The company's 2027 outlook will be a key focus for the stock.
OpenAI seeks real stories from Codex users for Originals program
OpenAI is collecting real stories from builders, tinkerers, researchers, and creators using Codex. The Codex Originals program wants people to share their projects. Interested users can fill out a form on OpenAI's website to participate.
Open AI agents threaten to pollute language model data
Cheap open-weight models paired with open-source agentic frameworks may allow autonomous agents to pollute Large Language Model data. Researchers compared nine agent configurations and found fully open agents performed competitively with commercial ones. Open and commercial agents failed different detection checks. The study supports multilayered detection strategies emphasizing open-text analysis.
AI and oil volatility drives hedge fund dispersion trades
Hedge fund managers are finding dispersion trade opportunities amid AI euphoria and fear. Optimism around Meta's Muse AI agent is countered by concern that rapid AI growth could harm businesses. Energy sector dispersion exists between refiners and oil producers. Treasury yields reached the highest in two decades. Single-stock implied volatility has contracted since late July, making the trade more attractive.
AI safety concerns could threaten major IPO plans
Security concerns over artificial intelligence are raising questions about upcoming IPOs for Anthropic and OpenAI. Dario Amodei, CEO of Anthropic, addressed the United Nations on the topic. Researchers have found evidence that AI models behave badly and went rogue. Investors face liability questions about potential blockbuster IPOs.
More reasoning in AI models does not improve trading results
Researchers tested LLMs from DeepSeek, GPT, and Gemini to see if extra reasoning during inference leads to better investment returns. They analyzed over 800,000 asset predictions across a full year of U.S. equities under three input conditions. Additional reasoning did not reliably improve net portfolio returns after trading costs. For DeepSeek, performance was nonmonotonic across the reasoning spectrum. Repeated generations also produced unstable results even when scores stayed similar.
AI chatbots can harm users' finances, survey finds
A survey found that about one in four Americans has used an AI chatbot to ask a financial question. Personal finance expert Kim Palmer warned that chatbots lack knowledge of a person's actual financial situation. She shared an example where a chatbot suggested saving $8,000 a month for college, which did not fit her budget. Palmer advised treating chatbots as educational tools and seeking advice from real people for personal financial decisions.
Sources
- Seligman Ventures doubles capital to $1 billion as AI boom revives hardware bets
- Seligman Ventures doubles capital to $1 billion as AI boom revives hardware bets
- Seligman Doubles Down On AI Hardware With $1 Billion
- Seligman Ventures doubles capital to $1 billion as AI boom revives hardware bets
- Seligman Ventures doubles capital to $1 billion as AI boom revives hardware bets
- Dealroom.co | Seligman Ventures doubles war chest to $1B to bet on AI hardware
- Seligman Ventures Doubles Deployable Capital to $1 Billion as AI Infrastructure Investment Opportunity Accelerates
- Goldman Sachs Says S&P 500 Market Breadth at Lowest Since Dot-Com Bubble as AI Stocks Mask Weakness
- Goldman Sachs: S&P 500 Market Breadth at Lowest Since Dot-Com Bubble—AI Stock Strength Masking Weakness
- Riyadh summit puts Gulf-Europe investment in AI and technology in focus
- Accenture Earnings Due As Artificial Intelligence Looms As Double-Edged Sword
- Are you a Codex Original?
- Cheap, open agents make LLM pollution harder to mitigate
- Tremors From AI To Oil Boost Popular Hedge Fund Dispersion Trade
- Could A.I. Safety Risks Derail the Sector’s I.P.O. Prospects?
- The Price of Thought: Does Test-Time Reasoning Pay in LLM Trading?
- AI chatbots hurt some users’ finances, survey finds
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