Humanoid Robot Race: Bezos And Nvidia Join OpenAI In Funding Startups For The Tech – News18

(Reuters) -Amazon.com founder Jeff Bezos, Nvidia and different massive expertise names are investing in startup Figure AI that develops human-like robots, Bloomberg News reported on Friday, citing individuals with data of the state of affairs.

Figure AI, additionally backed by ChatGPT-maker OpenAI and Microsoft, is elevating about $675 million in a funding spherical that carries a pre-cash valuation of about $2 billion, in accordance with the report.

Bezos had dedicated $100 million by means of his agency Explore Investments LLC and Microsoft is investing $95 million, whereas Nvidia and an Amazon-affiliated fund are every offering $50 million, the report added.

Investments in synthetic intelligence startups have sparked after the launch of OpenAI’s viral chatbot ChatGPT in November 2022, as buyers sense a possibility, betting on these startups that they may outpace greater rivals.

OpenAI, which at one level thought-about buying Figure, is investing $5 million, the report added.

Backers embody Intel’s enterprise capital arm, LG Innotek, Samsung’s funding group, in addition to enterprise companies Parkway Venture Capital and Align Ventures, the report added.

ARK Venture Fund, Aliya Capital Partners and Tamarack are additionally amongst buyers within the startup, in accordance with the report.

Amazon, Nvidia, Microsoft and Intel declined to remark, whereas different names talked about within the report, together with Figure AI, didn’t instantly reply to Reuters’ requests for remark.

Last 12 months, Sunnyvale, California-based Figure, which develops basic-objective humanoid robots that might work in numerous environments and deal with a wide range of duties from warehouses to retail, raised $70 million from buyers led by Parkway Venture Capital in its first exterior spherical.

(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – Reuters)