Alexander Lewis 
Feb 24, 2024
Jeff Bezos, along with Nvidia and several prominent tech companies, is investing in Figure AI, a startup focused on creating robots with human-like capabilities, reported Bloomberg. The investment round, which is estimated to be around $675 million, values Figure AI at approximately $2 billion before the investment.
Bezos' Explore Investments LLC has committed $100 million to the venture, while Microsoft is contributing $95 million. Additionally, Nvidia and an Amazon-related fund are each providing $50 million.
The surge in investments in artificial intelligence startups follows the widespread interest generated by the release of OpenAI's popular chatbot ChatGPT in November 2022. Recognising the potential, investors are placing bets on these startups, anticipating their ability to surpass larger competitors.
OpenAI, which had considered acquiring Figure AI at one point, is now investing $5 million in the startup. Other notable backers include Intel's venture capital arm, LG Innotek, Samsung's investment group, Parkway Venture Capital, and Align Ventures.
Various other investors such as ARK Venture Fund, Aliya Capital Partners, and Tamarack are also participating in the funding round.
Last year, Figure, headquartered in Sunnyvale, California, secured $70 million in its initial external funding round led by Parkway Venture Capital. The company specialises in developing versatile humanoid robots capable of operating in diverse environments, from warehouses to retail settings.
