Bezos, Microsoft, OpenAI invest in robotics firm
Amazon’s Jeff Bezos, along with Nvidia, Microsoft, and OpenAI, has reportedly invested in Figure, a startup developing human-like AI robots. According to Bloomberg, Figure is in the process of raising around $675 million in funding, valuing the company at about $2 billion pre-investment.
What is the investment amount from each party?
As per the report, Bezos, through his investment firm Explore Investments LLC, is committing $100 million. Microsoft is contributing $95 million, while Nvidia and an Amazon-affiliated fund are each providing $50 million. OpenAI is investing $5 million, with the report mentioning that the Microsoft-backed company had considered acquiring Figure at one point. Additionally, Intel’s venture capital arm, LG Innotek, Samsung’s investment group, along with venture firms Parkway Venture Capital and Align Ventures, are listed as backers. ARK Venture Fund, Aliya Capital Partners, and Tamarack are also among the startup’s investors.
What attracts investors to these companies?
OpenAI’s release of the widely used chatbot ChatGPT in November 2022 has led to a surge in investment in artificial intelligence startups. Investors are drawn to these companies because they believe these startups have the potential to outperform larger competitors.
Based in Sunnyvale, California, Figure AI creates versatile humanoid robots designed for various environments and tasks, particularly in warehousing and retail. The company raised $70 million in its initial external funding round last year, with Parkway Venture Capital leading the investment.
Bezos and Nvidia have both invested in Perplexity AI, which recently secured $73.6 million in funding. Other investors include Institutional Venture Partners, and there have been personal investments from former YouTube CEO Susan Wojcicki and Google AI’s Jeff Dean.
