Flybridge Unveils AI Index to Track Market Leaders in Artificial Intelligence
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.
SOURCE Flybridge
