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Amazon.com founder Jeff Bezos, Nvidia and other big technology names are investing in startup Figure AI that develops human-like robots, Bloomberg News reported on Friday, citing people with knowledge of the situation.<\/p>\n<\/p><\/div>\n
Figure AI, also backed by ChatGPT-maker OpenAI and Microsoft, is raising about $675 million in a funding round that carries a pre-money valuation of about $2 billion, according to the report.<\/p>\n
Bezos had committed $100 million through his firm Explore Investments LLC and Microsoft is investing $95 million, while Nvidia and an Amazon-affiliated fund are each providing $50 million, the report added.<\/p>\n
Investments in artificial intelligence startups have sparked after the launch of OpenAI’s viral chatbot ChatGPT<\/a> in November 2022, as investors sense an opportunity, betting on these startups that they might outpace bigger rivals.<\/p>\n OpenAI, which at one point considered acquiring Figure, is investing $5 million, the report added.<\/p>\n Backers include Intel’s venture capital arm, LG Innotek, Samsung’s investment group, as well as venture firms Parkway Venture Capital and Align Ventures, the report added.<\/p>\n ARK Venture Fund<\/a>, Aliya Capital Partners and Tamarack are also among investors in the startup, according to the report.<\/p>\n Amazon, Nvidia<\/a>, Microsoft<\/a> and Intel declined to comment, while other names mentioned in the report, including Figure AI, did not immediately respond to Reuters’ requests for comment.<\/p>\n Last year, Sunnyvale, California-based Figure, which develops general-purpose humanoid robots that could work in different environments and handle a variety of tasks from warehouses to retail, raised $70 million from investors led by Parkway Venture Capital in its first external round.<\/p>\n Milestone Alert!<\/strong> Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed \u2013 it’s all here, just a click away! Login Now!<\/strong><\/a>\n<\/p>\n This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.<\/em><\/p>\n More<\/a> \n\t\tPublished: 24 Feb 2024, 06:56 AM IST\n\t<\/p>\n
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