Jeff Bezos, the founder of Amazon, has joined other tech giants like Nvidia, Microsoft, and the creators of ChatGPT, OpenAI, in investing in the startup Figure AI, which specializes in developing human-like AI robots.
As per the report, Figure AI, which is supported by Microsoft and OpenAI, the company that makes ChatGPT, is seeking to raise about $675 million in a fundraising round; prior to the investment, the company was valued at about $2 billion.
According to the report, Bezos' investment firm Explore Investments LLC has pledged $100 million. Both Nvidia and Amazon-affiliated funds are each investing $50 million.
Microsoft is contributing $95 million. Microsoft backed OpenAI, which once contemplated acquiring Figure AI, is now investing $5 million in the company.
According to the report, Intel's venture capital arm, LG Innotek, Samsung's investment group, venture firms Parkway Venture Capital and Align Ventures, ARK Venture Fund, Aliya Capital Partners, and Tamarack are also noted as investors in the startup.
In its first external round last year, Sunnyvale, California-based Figure, which creates all-purpose humanoid robots capable of handling a range of duties from retail to warehouses, earned $70 million from investors led by Parkway Venture Capital.
Bezos and Nvidia are among the investors in Perplexity AI, which secured $73.6 million in funding. Institutional Venture Partners also participated, alongside personal investments from former YouTube CEO Susan Wojcicki and Google AI's Jeff Dean.
The introduction of ChatGPT, a popular chatbot by OpenAI in November 2022, has sparked a wave of interest from investors in artificial intelligence firms. Investors believe these businesses have potential and are placing bets on their ability to outperform larger competitors.
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