Amazon.com founder Jeff Bezos, Nvidia, and other prominent figures in the tech industry are investing in startup Figure AI, which specializes in developing human-like robots, as reported by Bloomberg News on Friday, citing sources familiar with the matter.
Figure AI, also supported by OpenAI—the creator of ChatGPT—and Microsoft, is in the process of raising approximately $675 million in a funding round, valuing the company at about $2 billion before the influx of funds, according to the report.
Bezos has committed $100 million through his firm Explore Investments LLC, while Microsoft is investing $95 million. Nvidia and an Amazon-affiliated fund are each contributing $50 million, the report added.
The surge in investments in artificial intelligence startups follows the success of OpenAI's viral chatbot ChatGPT in November 2022. Investors are recognizing the potential of these startups to outperform larger competitors.
OpenAI, which once contemplated acquiring Figure, is injecting $5 million into the venture, the report stated. Other backers include Intel's venture capital arm, LG Innotek, and Samsung's investment group, along with venture firms Parkway Venture Capital and Align Ventures.
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ARK Venture Fund, Aliya Capital Partners, and Tamarack are also among the investors in the startup, according to the report.
Amazon, Nvidia, Microsoft, and Intel declined to comment, while other entities mentioned in the report, including Figure AI, did not immediately respond to Reuters' requests for comment.
Last year, Figure, based in Sunnyvale, California, secured $70 million in its first external funding round led by Parkway Venture Capital. The company specializes in developing versatile humanoid robots capable of operating in various environments, from warehouses to retail settings.
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