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Bezos, Nvidia Back Humanoid Robot Startup Figure AI in Major Investment

, By Team SNFYI
Artificial Intelligence

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Amazon founder Jeff Bezos, Nvidia, and other tech giants are investing in humanoid robot startup Figure AI, as reported by Bloomberg. The startup, also backed by OpenAI and Microsoft, is raising approximately $675 million, with a pre-money valuation of about $2 billion.

According to the report, Bezos committed $100 million through his firm Explore Investments LLC, while Microsoft is investing $95 million. Nvidia and an Amazon-affiliated fund are each providing $50 million.

Investments in AI startups have surged since the launch of OpenAI’s ChatGPT, with investors sensing an opportunity for growth against larger competitors.

OpenAI, considering acquiring Figure at one point, is investing $5 million. Other backers include Intel’s venture capital arm, LG Innotek, Samsung’s investment group, Parkway Venture Capital, Align Ventures, ARK Venture Fund, Aliya Capital Partners, and Tamarack.

Last year, Figure, based in Sunnyvale, California, raised $70 million from investors led by Parkway Venture Capital for its general-purpose humanoid robots designed for various environments and tasks.

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Bezos, Nvidia Back Humanoid Robot Startup Figure AI in Major Investment

, By Team SNFYI
Artificial Intelligence


News Update

Amazon founder Jeff Bezos, Nvidia, and other tech giants are investing in humanoid robot startup Figure AI, as reported by Bloomberg. The startup, also backed by OpenAI and Microsoft, is raising approximately $675 million, with a pre-money valuation of about $2 billion.

According to the report, Bezos committed $100 million through his firm Explore Investments LLC, while Microsoft is investing $95 million. Nvidia and an Amazon-affiliated fund are each providing $50 million.

Investments in AI startups have surged since the launch of OpenAI’s ChatGPT, with investors sensing an opportunity for growth against larger competitors.

OpenAI, considering acquiring Figure at one point, is investing $5 million. Other backers include Intel’s venture capital arm, LG Innotek, Samsung’s investment group, Parkway Venture Capital, Align Ventures, ARK Venture Fund, Aliya Capital Partners, and Tamarack.

Last year, Figure, based in Sunnyvale, California, raised $70 million from investors led by Parkway Venture Capital for its general-purpose humanoid robots designed for various environments and tasks.

Follow Startup Story





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News
Swiggy Changes Its Registered Name Ahead Of IPO
Next News
This Week in Coins: Ethereum Steals the Show, Bitcoin Loses Steam, and AI Tokens Explode
Team SNFYI
Team SNFYI

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