On February 24, according to foreign news reports, people familiar with the matter revealed that Jeff Bezos, Nvidia and other large technology companies are investing in a company that develops humanoid robots as part of efforts to find new applications for artificial intelligence.
Figure Figure, a startup backed by OpenAI and Microsoft, raised about $6$7.5 billion, with a pre-funding valuation of about $2 billion.
Since the matter was not made public, the person requested anonymity.
Bezos invested $100 million through his company, Explore Investments. Microsoft will invest $95 million, while Nvidia and Amazon affiliates** will provide $50 million each.
Robotics has become an important new area in the AI industry, allowing it to apply cutting-edge technology to real-world tasks. At figure, engineers are working on a robot that looks and moves like a human.
The company said it hopes its machine, called Figure 01, will be able to perform dangerous jobs that are not suitable for humans, and that its technology will help alleviate labor shortages.
Other tech companies are also involved. Intel's venture capital arm will invest $25 million, and LG Innotek will provide $8.5 million. Samsung Investment Group pledged to invest $5 million. Supporters also include Parkway Venture Capital, a venture capital firm that invested $100 million, and Align Ventures, which provided $90 million.
OpenAI had considered acquiring Figure and is currently investing $5 million. Bloomberg News reported on the funding round in January, with Microsoft and OpenAI as the initial major investors. These bigwigs helped attract an influx of money from other entities. 6The $7.5 billion is a significant increase from the $500 million that Figure originally sought.
Representatives of Figure and its investors declined to comment or did not immediately respond to requests for comment.
Investors are expected to send funds to Figure and sign a formal agreement on Monday, but the numbers could change as final details are finalized. The valuation of about $2 billion is pre-funding, which means it doesn't take into account the capital that Figure is raising.
Last May, Figure raised $70 million in a funding round led by Parkway. At the time, CEO Brett Adcock said: "We want to be one of the first teams to bring to market humanoid robots that are really useful and can be used for commercial purposes."
The AI robotics industry has been busy lately. Earlier this year, OpenAI-backed Norwegian robotics startup 1X Technologies AS raised $100 million. Sanctuary AI, based in Vancouver, British Columbia, is developing a humanoid robot called Phoenix. Tesla is developing a robot called Optimus, which CEO Elon Musk calls one of his most important projects.
Agility Robotics, which Amazon invested in 2022, tested the robot in one of the retailer's warehouses.
Bezos, the second-richest person in the world, was CEO of Amazon until 2021 and remains chairman, according to the Bloomberg Billionaires List. His net worth is estimated at $197.1 billion.