Amazon’s founder Jeff Bezos, alongside Nvidia and other major tech players, is reportedly investing in startup Figure AI, which is focused on developing robots with human-like capabilities.
Figure AI, supported by OpenAI, Microsoft, and others, aims to secure approximately $675 million in funding, valuing the company at around $2 billion before the investment.
Bezos has pledged $100 million through his firm Explore Investments LLC, while Microsoft is contributing $95 million. Nvidia and an Amazon-linked fund are each pitching in $50 million, as per the report.
Investor interest in AI startups has surged since the viral launch of OpenAI’s ChatGPT in November 2022, with backers seeing the potential for these startups to outperform larger competitors.
OpenAI, initially considering acquiring Figure, is now investing $5 million in the startup, the report notes.
Other backers include Intel’s venture capital arm, LG Innotek, Samsung’s investment group, as well as Parkway Venture Capital and Align Ventures. ARK Venture Fund, Aliya Capital Partners, and Tamarack are also reported to be among the investors in Figure AI.
The figure, based in Sunnyvale, California, specializes in developing humanoid robots capable of functioning across various settings, from warehouses to retail, and handling diverse tasks. Last year, the startup secured $70 million in its first external funding round, led by Parkway Venture Capital.