Last Updated: February 25, 2024, 15:00 IST
Major tech giants are investing massive in the way forward for the robotic tech.
The Amazon founder, Nvidia and different massive expertise names are investing in startup Figure AI that develops humanlike robots.
(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 scenario.
Figure AI, additionally backed by ChatGPT-maker OpenAI and Microsoft, is elevating about $675 million in a funding spherical that carries a pre-money valuation of about $2 billion, in response to 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 chance, betting on these startups that they may outpace greater rivals.
OpenAI, which at one level thought of 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 corporations 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 response to 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 yr, Sunnyvale, California-based Figure, which develops general-purpose humanoid robots that might work in several environments and deal with quite a lot 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 workers and is printed from a syndicated news company feed – Reuters)
Source: www.news18.com
