Jeff Bezos, NVIDIA to back humanoid robot start-up Figure AI
What's the story
Jeff Bezos and NVIDIA, along with several others, are investing in humanoid robot start-up Figure AI, reported Bloomberg.
The company, also backed by Microsoft and OpenAI, is raising around $675 million in funding, with a pre-money valuation of about $2 billion.
Figure AI creates versatile humanoid robots that can work in various settings and perform a range of tasks, from warehouses to retail spaces.
Investment portfolio
Tech giants are investing in millions
Amazon's founder Bezos is investing $100 million through his firm Explore Investments LLC, while Microsoft is contributing $95 million.
NVIDIA and an Amazon-affiliated fund are each putting in $50 million.
OpenAI, which once considered buying Figure AI, is investing $5 million.
Other supporters include Intel's venture capital division, LG Innotek, Samsung's investment group, Parkway Venture Capital, Align Ventures, ARK Venture Fund, Aliya Capital Partners, and Tamarack.
Surge in investment
AI start-up funding sees surge post ChatGPT launch
The launch of OpenAI's popular chatbot ChatGPT in November 2022 has led to a spike in investments in artificial intelligence start-ups.
Investors are hoping these start-ups could potentially outperform their larger competitors.
Last year, Figure AI, based in Sunnyvale, raised $70 million in its first external round led by Parkway Venture Capital.
While Amazon, NVIDIA, and Microsoft declined to comment on the investment, other names mentioned, including Figure AI itself, did not immediately respond to requests for comment, per Reuters.