NEW
YORK, May 22, 2024 /PRNewswire/ -- Flybridge, a
pioneering early-stage venture capital firm, today launched the
Flybridge AI Index, a new stock market index designed to track the
performance of 28 publicly traded companies at the forefront of
artificial intelligence innovation. This diverse group spans
sectors such as infrastructure, applications, and industry-specific
AI solutions, offering a comprehensive view of the AI
landscape.
The Flybridge AI Index features industry titans like NVIDIA,
Google, Microsoft, and IBM, alongside emerging AI-driven companies
such as C3.ai, Palantir, and UiPath. Utilizing an equal-weighting
methodology, the index provides an aggregate performance snapshot
of these AI leaders.
Since its inception on January 1,
2023, the Flybridge AI Index has achieved a remarkable
100.5% return, significantly outperforming the S&P 500 (32.9%),
NASDAQ (52.5%), and other major indices. This impressive
performance underscores the rapid growth and market potential of
the AI sector.
"Artificial intelligence is one of the most transformative
technological advancements of our era," said Chip Hazard, General Partner at Flybridge. "The
Flybridge AI Index offers a valuable benchmark for tracking the
progress and performance of key public companies driving AI
innovation."
In conjunction with the index launch, Flybridge will host an
event during New York Tech Week on June
4th. This event will feature leaders from some of the
companies included in the index, discussing the impact of AI on
various industries and the future of AI-driven innovation.
The Flybridge AI Index will undergo quarterly updates to
incorporate new AI-focused public companies and remove those that
no longer meet the criteria.
"As early-stage investors, understanding the drivers of value in
public markets is crucial," said Daniel
Porras Reyes, creator of the AI Index at Flybridge. "The AI
Index will be a dynamic tool, evolving with the market as the
generative AI wave progresses."
For more information on the index, including the full
methodology and current holdings, visit ai-index.flybridge.com.
About Flybridge Capital
Flybridge is a venture capital firm based in Boston that partners with bold entrepreneurs
to build exceptional and valuable technology companies. Since its
founding in 2002, Flybridge has invested in over 150 companies
across multiple emerging technology sectors. Notable Flybridge
investments include MongoDB, Nasuni, Chief, Codecademy (acquired by
Skillsoft), and more.
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SOURCE Flybridge