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HomeAi CompaniesAmazon founder Jeff Bezos joins Microsoft, OpenAI to invest in robotics company

Amazon founder Jeff Bezos joins Microsoft, OpenAI to invest in robotics company

Amazon founder Jeff Bezos has joined technology giants Nvidia, Microsoft and ChatGPT maker OpenAI in investing in a startup that develops human-like AI robots, a report has said.

Citing sources familiar with the situation, a report by Bloomberg said that the robotics company Figure is currently raising roughly $675 million in a funding round, valuing the company at approximately $2 billion before the investment.

How much each party is investingAccording to the report, Bezos, through his investment firm Explore Investments LLC, has committed $100 million. Microsoft is contributing $95 million, while Nvidia and an Amazon-affiliated fund are each providing $50 million.

OpenAI is investing $5 million, the report said, adding that the Microsoft-backed company considered acquiring Figure at one point.

Intel’s venture capital arm, LG Innotek, Samsung’s investment group, along with venture firms Parkway Venture Capital and Align Ventures, are also listed as backers, according to the report.

ARK Venture Fund, Aliya Capital Partners, and Tamarack are also among the startup’s investors.

Why investors are interested in these companies The launch of OpenAI’s popular chatbot ChatGPT in November 2022 sparked increased investment in artificial intelligence startups as investors see potential in these companies, believing they may surpass larger competitors.

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Figure AI, based in Sunnyvale, California, develops general-purpose humanoid robots capable of operating in various environments and handling diverse tasks in sectors like warehousing and retail. Last year, the company secured $70 million from investors led by Parkway Venture Capital in its first external funding round.

Both Bezos and Nvidia also invested in Perplexity AI, which gained $73.6 million in funding, Other investors include Institutional Venture Partners and there have been personal investments from former YouTube CEO Susan Wojcicki as well as Google AI’s Jeff Dean.

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Leah Sirama
Leah Sirama
Leah Sirama, a lifelong enthusiast of Artificial Intelligence, has been exploring technology and the digital realm since childhood. Known for his creative thinking, he's dedicated to improving AI experiences for all, making him a respected figure in the field. His passion, curiosity, and creativity drive advancements in the AI world.
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