Jeff Bezos, Nvidia Corporation (NASDAQ: NVDA), and other technology giants are funneling investments into Figure AI, a startup dedicated to advancing human-like robots, as reported by Bloomberg.
Figure AI, backed by OpenAI and Microsoft Corporation (NASDAQ: MSFT), is undergoing a funding round aiming to raise around $675 million. This move would give it a pre-money valuation of about $2 billion.
Bezos, via Explore Investments LLC, is contributing a prime share of $100 million, closely followed by Microsoft Corporation (MSFT) injecting $95 million. Nvidia (NASDAQ: NVDA) and an Amazon.com (AMZN) affiliate each commit $50 million.
The funding round also witnesses commitments from Intel Corporation (NASDAQ: INTC)’s venture arm, earmarking $25 million, along with contributions from LG Innotek ($8.5 million) and Samsung’s investment group ($5 million). Parkway Venture Capital and Align Ventures are also stepping up, with investments amounting to $100 million and $90 million, respectively.
This investment showcases the increasing focus of the technology sector on employing advanced AI through robots in real-world applications. Figure AI is developing Figure 01, a robot that emulates human appearance and motion to undertake hazardous tasks and mitigate labor shortages.
OpenAI, which previously entertained the idea of acquiring Figure, joins the fray with a $5 million stake.
The involvement of such influential entities has propelled the total funds raised well beyond the initial $500 million target.
The latest funding injection follows Figure AI’s previous successful round, securing $70 million in May, led by Parkway Venture Capital.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
