CIOInsider India Magazine
Jeff Bezos, Nvidia Unite with OpenAI in Funding Humanoid Robot Startup
According to reports, Jeff Bezos, Nvidia Corp. and other big technology names are investing in a business that’s developing human-like robots.
According to persons who asked not to be named because the subject is private, Figure AI Inc., a firm that is also supported by OpenAI and Microsoft Corp., is raising around $675 million in a funding round with a pre-money valuation of roughly $2 billion.
Bezos has pledged one hundred million dollars through his company Explore Investments LLC. Microsoft is contributing $95 million, while $50 million each comes from Nvidia and a fund connected to Amazon.com Inc.
The AI sector now sees robots as a crucial new frontier that will enable it to apply cutting-edge technology to practical jobs. Engineers at Figure are developing a robot that mimics human appearance and gait.
The company has expressed anticipation that Figure 01, its machine, will be able to carry out hazardous tasks that are inappropriate for humans and that its technology will assist address the labour problem.
There are other tech corporations involved as well. The venture capital division of Intel Corp. is contributing $25 million, while LG Innotek is contributing $8.5 million. In the meantime, Samsung's investment group made a $5 million pledge. Venture capital firms Parkway Venture Capital, contributing $100 million, and Align Ventures, contributing $90 million, are also among the backers.
The influx of funds from the other entities was facilitated by those well-known names. The $675 million that was raised surpasses Figure's initial goal of $500 million by a considerable margin.
OpenAI is investing $5 million, having previously entertained the idea of purchasing Figure. The funding round was first announced by Bloomberg News in January, with Microsoft and OpenAI serving as the primary investors.
The influx of funds from the other entities was facilitated by those well-known names. The $675 million that was raised surpasses Figure's initial goal of $500 million by a considerable margin.
