Ashton Kutcher is stepping away from Sound Ventures to launch a new venture capital firm alongside Morgan Beller, according to a report from TechCrunch. The move marks a significant pivot for Kutcher, who helped build Sound's reputation for concentrated, high-conviction bets in category-leading AI labs. Beller, a well-known figure in the crypto and venture space, will serve as co-founder of the new entity.
The new firm will target a different layer of the AI ecosystem than Sound Ventures did. Rather than investing directly in AI labs, Kutcher and Beller plan to back the infrastructure and energy companies that power those labs. This shift reflects a growing recognition that AI's scalability depends heavily on compute resources and energy supply.
Details on the fund's size and specific investment focus remain undisclosed. Sound Ventures, which Kutcher co-founded, will continue its existing operations and portfolio management without him. The separation appears amicable, with both parties expressing mutual respect in internal communications.
The move underscores a broader trend among venture investors toward AI-adjacent sectors like data centers and energy technology. As AI models grow more resource-intensive, firms providing the underlying hardware and power are attracting increased attention from investors.
One industry observer noted that infrastructure plays remain less volatile than direct AI lab investments, offering a potentially steadier return profile in a rapidly evolving market.