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  • Writer's pictureSarah Ruivivar

Bezos and Tech Giants Back Humanoid Robot Startup

Updated: Mar 1

📸 ModelProp / Midjourney

Big tech names are making waves in the AI world again!

This time, they're investing in Figure AI, a startup that's making humanoid robots more than just a sci-fi dream. According to Bloomberg News, Amazon founder Jeff Bezos, Nvidia, and other tech giants are injecting funds into this innovative venture.

Figure AI, which is also backed by OpenAI (the creators of the viral chatbot, ChatGPT) and Microsoft, is reportedly raising about £510 million in a funding round. This hefty investment carries a pre-money valuation of about £1.5 billion. Impressive, right?

The report reveals that Bezos has committed £75 million through his firm, Explore Investments LLC, while Microsoft is investing £71 million. Nvidia and an Amazon-affiliated fund are each providing £37 million.

The AI industry has seen a surge in investments since the launch of OpenAI's ChatGPT in November 2022. Investors are placing their bets on AI startups, hoping they could outpace their bigger rivals. OpenAI, which once considered acquiring Figure, is investing £3.7 million.

Other backers include Intel's venture capital arm, LG Innotek, Samsung's investment group, and venture firms Parkway Venture Capital and Align Ventures. ARK Venture Fund, Aliya Capital Partners, and Tamarack are also among the investors in the startup.

Figure AI, based in Sunnyvale, California, is developing general-purpose humanoid robots. These robots are designed to work in various environments and handle a range of tasks, from warehouse duties to retail roles. Last year, Figure raised £52 million from investors led by Parkway Venture Capital in its first external round.

As for comments from the investors, Amazon, Nvidia, Microsoft, and Intel have declined to comment. Figure AI and other names mentioned in the report have not yet responded to requests for comment. But one thing's for sure - the AI industry is heating up, and we can't wait to see what's next!

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