It's not often that excitement at the Monaco Yacht Show is caused by who owns the shipyards rather than who owns the yachts, but when gaming billionaire Gabe Newell made an appearance in Port Hercule last month (albeit via video link), the industry sat up and listened.
Since acquiring the Dutch shipyard Oceanco in August, the co-founder and president of Valve Corporation has made no secret about his plans to bring development and ideas to the table. Formally identified by the yard as a ‘hands-on visionary’ rather than an owner or financier, Newell, an early funder of OpenAI (and the first to digitalize the gaming platform) revealed his interest in shaking up the world of yachting by applying machine learning to shipbuilding.
“Putting stress and strain gauges everywhere, collecting time-series data and comparing it to model predictions, that’s where AI can validate and improve design,” said the Harvard drop-out, whose connection with Oceanco began as a client during the design and build of his 364-ft, soon-to-be-delivered yacht Leviathan. “Just about everything I’ve been involved in over the years has moved some aspect of technology forward in a way that benefits customers. Over time, we will start to identify interesting technologies, prototype them and move them into production.”
Whether Newell’s “broader strategy of expansion” aimed at “greater integration and collaboration” will begin with the 426.5-ft flagship superyacht that Oceanco announced at the show to be built under Lloyd’s Register classification remains to be seen. What was evident over the course of the week, however, is that Newell is not alone in his enthusiasm to move yachting forward.
Laurens Last, a Dutch manufacturing entrepreneur who acquired Heesen Yachts in April, also made public his intention to bring AI and robotics to the production process. “I see the same opportunities with automation and robotic systems for yachting that we successfully introduced in the packaging industry,” he said over breakfast aboard Heesen’s 180-ft yacht Agnetha. He highlighted painting and fairing as the first areas where improvements can be made, noting, “there are a lot of inefficient hours of labor involved, and I believe there is an opportunity to start looking to automation, while keeping the craftsmanship in areas where it’s needed.”
Last’s focus on efficiency included Heesen’s shock departure from the Monaco Yacht Show for the first time in 34 years, with the Dutch yard instead choosing to set up two miles down the road in Cap-d’Ail. Clients were shuttled back and forth by helicopter, car and tender in a risky move that ultimately paid off with the successful sale of Agnetha. The yacht was also the venue for an intimate cocktail party held on Thursday night of the show by Elite Traveler and sister publication Spear’s, in partnership with La Provencal, Heesen and Impossible Drinks.
Only time will tell if others choose to follow Heesen’s bravery next year, in what is arguably a symptom of the rising costs associated with both visiting and exhibiting at Monaco. There were 120 superyachts in the 2025 lineup valued at €4.3bn (approx. $5.03m), 50 of which were world premieres, yet the broker grapevine was bustling with talk of rich clients who balked at the cost of a €700 (approx. $820) visitor day pass. “When uber wealthy people are pushing back on ticket price, it raises questions,” one attendee told me.
The issue was compounded this year by a crackdown on the number of exhibitors passes being issued (causing several companies to find increasingly creative ways to get around the problem). And with one leading brokerage house confirming a spend of around £1m (approx. $1.35m) on stand costs, staff accommodation, flights and entertainment, the inevitable question over return on investment is fast becoming a sore point.
That said, the diversity of yachts on display, along with the lack of forecasted rain, buoyed most people’s spirits. Eyes were drawn to the golden exterior of the first 236-ft Admiral Armani, designed inside and out by the late fashion designer who sprinkled a generous collection of Armani Casa furniture throughout the (largely beige) interior. And Damen Yachting’s prospect of a mandatory dual charter package involving the first Xplorer 60 After You and its support vessel Emotional (delivered to the same client in August) inspired much talk over how owners are choosing to use their yachts today.
That inevitably brought discussion back round to Gabe Newell, who has been living full time aboard his growing flotilla of yachts since the pandemic. What Newell and the Monaco Yacht Show fleet highlighted more than anything this year is that yachts are not solely used as platforms for unadulterated leisure, but as tools for exploration, science, privacy and family.
