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Seligman Ventures Targets AI's Next Frontier Amidst xAI 'X-odus' and SaaS Industry Shakeup
Episode 792
Thursday, 12 February, 2026
Good morning from OWITH.ai: the podcast that gives you only what's important to hear in the AI and tech world.Seligman, a $30 billion investment firm, has announced the creation of Seligman Ventures, a new venture arm with a $500 million fund dedicated to early-stage AI investments. As public markets contract and private markets expand, driven largely by AI disruptions, Seligman Ventures aims to seize these opportunities by focusing on AI infrastructure, cloud solutions, cybersecurity, and modern data center hardware. The initiative is spearheaded by Paul Wick, Seligman's Chief Investment Officer, alongside seasoned tech investor Umesh Padval. Unlike larger firms, Seligman Ventures intends to manage a smaller fund size to concentrate on nurturing companies from inception and achieving substantial returns. This approach is informed by Wick's extensive experience in observing the interplay between public and private markets, emphasizing the added value of early-stage investments. The collaboration between Wick and Padval seeks to leverage their collective expertise and networks to identify promising early-stage ventures before they become highly valued in subsequent funding rounds. This move aligns with a broader trend where companies remain private longer while attracting more capital, prompting inquiries into the true value within the investment landscape. Historically, Seligman has adeptly navigated similar market disruptions, with roots tracing back to J. & W. Seligman & Co., known for financing significant industrial projects in the 19th century. The firm's historical experience with transformative technologies provides a robust foundation for addressing current market challenges.Transitioning now to another dynamic development in the tech sector...Elon Musk is restructuring his AI startup, xAI, amidst a notable talent departure. Following its merger with SpaceX, xAI has witnessed the exit of six of its original 12 founding members, including co-founders Jimmy Ba and Tony Wu. Musk has announced that xAI will now consist of four core groups: Grok chatbot and voice tech, Imagine video product, coding, and Agentic Macrohard business. This reorganization aims to enhance execution speed but raises concerns about stability as the company plans to go public by June. The competitive landscape featuring rivals like OpenAI and Anthropic adds pressure to xAI's trajectory. Additionally, xAI has faced controversies concerning its Grok chatbot and AI-generated non-consensual imagery. This "X-odus" complicates the company's trajectory amid product issues and safety concerns related to its Grok chatbot.In parallel tech updates...Apple's release of an AI-capable Siri faces delays due to technical issues like slow processing and accuracy concerns. New Siri features may be rolled out incrementally over the coming year. Meanwhile, Google played a pivotal role in investigating Nancy Guthrie's disappearance by accessing Nest camera footage despite subscription limitations, sparking discussions about digital privacy and surveillance.Continuing with industry news...The term "saaspocalypse" describes the recent downturn in the Software as a Service (SaaS) industry, impacting major players like Salesforce, Oracle, Asana, DocuSign, and Intuit. This decline is attributed to the launch of advanced AI systems by companies such as Anthropic and OpenAI that challenge traditional SaaS functionalities. The future success of these SaaS giants depends on three critical factors: data integration, pricing models, and adaptability to AI advancements.Data Integration: Companies managing mission-critical software integrated with sensitive data may hold a competitive advantSupport the showThanks for listening! Follow us on Twitter, Instagram and Linkedin
