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Tech Leaders Invest $675 Million in Figure AI, a Humanoid Robot Company

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A group of big tech leaders, including Jeff Bezos and Nvidia, are investing a significant amount of money, $675 million, in Figure AI Inc., a startup focused on creating robots that look and move like humans. This move shows a new interest in using artificial intelligence (AI) for human-like robots.

According to Bloomberg News, Jeff Bezos from Amazon and Nvidia are among the key investors supporting Figure AI Inc. The startup has successfully raised this huge amount of money, making its total value around $2 billion before the funding.

Jeff Bezos is leading the investment with $100 million, followed by Microsoft with $95 million. Nvidia and an Amazon-related fund are also putting in $50 million each. This financial support indicates a shared belief in Figure AI’s potential to change the world of AI and robotics.

These investments come at a time when there is a lot of interest in AI startups, boosted by the popularity of OpenAI’s ChatGPT in November 2022. Investors see these startups as having the potential to compete with more established companies.

Tech Leaders Invest $675 Million in Figure AI

OpenAI, initially considering buying Figure AI, is now investing $5 million in the startup. Other supporters include Intel, LG Innotek, Samsung, Parkway Venture Capital, Align Ventures, ARK Venture Fund, Aliya Capital Partners, and Tamarack.

Figure AI is working on a humanoid robot called Figure 01, designed to look and move like a human. This robot is intended for tasks that are dangerous for humans, helping with labor shortages and making workplaces safer. Tech giants like Intel, LG Innotek, and Samsung are also contributing millions to support this robotic revolution.

Parkway Venture Capital stands out with a $100 million investment, along with Align Ventures with $90 million. Other contributors include ARK Venture Fund ($2.5 million), Aliya Capital Partners ($20 million), Tamarack ($27 million), Boscolo Intervest Ltd. ($15 million), and BOLD Capital Partners ($2.5 million).

The involvement of these tech giants has significantly increased Figure AI’s funding from the initial target of $500 million to an impressive $675 million. While details are expected to be finalized by Monday, Figure AI aims to lead the way in creating a commercially viable humanoid robot, adding to the dynamic activity in the AI robotics industry.

In this rapidly growing technological field, companies like OpenAI-backed 1X Technologies AS, Sanctuary AI, and Tesla’s Optimus robot are making notable contributions. Amazon-supported Agility Robotics is also testing robots in its warehouses, highlighting the energy and potential of the AI robotics sector.

Jeff Bezos, one of the world’s wealthiest individuals, continues to make strategic investments after stepping down as Amazon’s CEO. His involvement in this funding initiative emphasizes the strategic importance of advancements in AI and robotics.

Source: Innovation Village