Artificial Intelligence
Jeff Bezos-Backed AI Startup Hits $41B Valuation After $12 Billion Funding Round
Prometheus, the artificial intelligence startup backed by Jeff Bezos, has reached a valuation of $41 billion after raising $12 billion in a new funding round. Investors included JPMorgan Chase, Goldman Sachs, BlackRock and Bezos himself. Led by Bezos and former Google executive Vik Bajaj, the company develops AI models and tools designed to help engineer and manufacture physical products in industries such as computing and aerospace. The startup currently employs around 150 people and is reportedly exploring broader expansion plans, including acquiring companies that could benefit from the technologies it is developing.
Prometheus, Bezo's backed AI startup has raised $12 billion in latest capital injection and is valued at $41 billion as investor's appetite for AI continues to grow. JPMorgan Chase, Goldman Sachs, BlackRock and Bezos himself all participated in the funding round.
Prometheus Becomes a Secret Player
Bezos' company also employs Vik Bajaj, a former Google executive who leads the Prometheus team. The firm has a mission to build AI models and tools specifically designed to support the engineering and manufacturing of physical products within computing and aerospace sectors.
The startup employs roughly 150 people at present and is pinning itself where AI meets industrial innovation. Prometheus announced today that it raised $100 million in its latest funding round, which will bolster the company as competition heats up among the companies developing technologies for next-generation AI.
Bezos Doubles Down on AI Investments
Bezos stepped away from serving as CEO of Amazon through 2021 and has been increasingly focusing on tech and innovation efforts.
Also working on his space company Blue Origin, he has made investments in multiple AI and robotics companies like Physical Intelligence and Generalist AI. Meanwhile, Bezos is still Executive Chair of Amazon and moves further into more new technology areas.
Prometheus Eyes Larger Expansion Plans
Earlier reports say Prometheus has looked at raising tens of billions to round up a holding company that would buy businesses likely to profit from the tech its AI lab is developing.
This strategy would enable the firm to combine AI development while also owning businesses where that technology could be applied directly and commercially. The most recent funding round represents yet another key step forward for Prometheus as it aims to position itself with the other powerhouses in the white-hot AI space.
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