Tech Titans Back Humanoid Robot Venture: Bezos, Nvidia, and OpenAI Fund Figure AI

-


 

In a significant move that underscores the burgeoning interest in artificial intelligence and robotics, a range of technology powerhouses including Jeff Bezos, Nvidia, and Open AI have come together to back Figure AI, a startup dedicated to developing humanoid robots. This collaboration is part of a broader trend of investment in AI startups, spurred by the viral success of Open AI's Chat GPT in November 2022, which has captured the imagination of investors keen on backing ventures that could potentially outperform larger, established players in the tech arena.

Figure AI, which also enjoys the support of Microsoft, is in the process of raising approximately $675 million in a funding round that values the company at about $2 billion before the addition of new funds. Jeff Bezos, through his firm Explore Investments LLC, has committed a substantial $100 million, with Microsoft contributing $95 million. Nvidia and an Amazon-affiliated fund are each investing $50 million, showcasing the broad base of support for Figure AI's vision. Open AI itself is contributing $5 million to the round, a symbolic yet significant investment reflecting its interest in the startup's potential​​​​​​.

The influx of funding into Figure AI and the diversity of its backers—including Intel's venture capital arm, LG Innotek, Samsung's investment group, and various venture firms like Parkway Venture Capital and Align Ventures—highlight the intense competition and excitement surrounding the future of AI and robotics. Last year, Figure AI, based in Sunnyvale, California, raised $70 million in its first external funding round, led by Parkway Venture Capital. The company aims to develop general-purpose humanoid robots capable of operating in various environments and performing a wide range of tasks, from warehouse logistics to retail services​​​​​​.

This collaboration among tech giants signals a strong belief in the transformative potential of humanoid robots and artificial intelligence. As the sector continues to evolve, the support from industry leaders like Bezos, Nvidia, and Open AI not only provides the financial backing necessary for Figure AI's ambitious projects but also lends significant credibility to the startup's endeavors in the competitive landscape of AI and robotics.

COMPILED BY: NEERAJ KHATRI

Comments

Post a Comment

Popular posts from this blog

Why Artificial Intelligence And Deep Learning Are Witnessing Phenomenal Growth In India:

-
Image
  Given the momentum before 2020, it's reasonable to expect that the demand for AI jobs will continue to grow in the subsequent years, with some fluctuations due to the impact of the COVID-19 pandemic. In India 2022 , India’s Artificial Intelligence market was valued at $ 7.8 billion, a 22 percent increase in valuation compared to the year 2021. Artificial Intelligence and Deep Learning are bringing a technological revolution in all other occupations, be it Finance, Agriculture, or Healthcare. Hence, in the coming years, the implementation of AI/DL to facilitate smooth workflow and more accessible consumer interactions will force companies to hunt for a skilled workforce. AI Industry Is Booming In India: The use of Artificial Intelligence tools across various Industries is expeditiously rising. To survive in the highly competitive business environment, organizations are looking for systems that enhance their customer service, increase sales, and improve their efficiency in operat
Read more

Microsoft And OpenAI Plan $100b Supercomputer Project

-
Image
  Microsoft and Open AI are building a massive $100 billion data center and supercomputer to take their artificial intelligence capabilities to the next leve l: As of my last update in March 2024, there has been an announcement regarding a joint $100 billion supercomputer project between Microsoft and Open AI which will be launched in 2028. However, such a project could have been initiated or announced after that time. Large-scale collaborations like this have significant implications for advancing AI research and pushing the boundaries of computing capabilities. Getting Future-Ready Biggest AI supercomputer stargate, which will built as part of the data center project is likely to be launched The world’s most expensive data center   project is underway as  Microsoft and AI  are building a supercomputer facility to take AI to the next level for a price tag of over $100 billion. The goal is to build a data center campus in five phases that can enable the most  powerful AI   offering an
Read more

India's Retail Sector Set To Transform With Generative AI:

-
Image
  In an era where technology continually redefines the marketplace, India's retail sector is poised for a significant transformation. A recent survey reveals a striking statistic: 71% of Indian retail businesses plan to adopt Generative AI (Gen AI) within the next year, mirroring a global trend where major international companies like eBay, Walmart, and Nordstrom are already harnessing the power of Gen AI for diverse applications​​​​. The Gen AI Revolution in Indian Retail:   Generative AI, a frontier in artificial intelligence, is rapidly becoming a cornerstone of retail innovation. This technology encompasses a range of AI systems that can generate new content and ideas based on their training data. In the retail sector, this could translate into personalized shopping experiences, optimized supply chains, and more efficient customer service models. The adoption rate in India is particularly noteworthy. While 6% of Indian retail organizations have already implemented Gen AI, a
Read more