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Tech giants including Nvidia and OpenAI invest in humanoid robot AI start up

Published 26/02/2024, 03:57 pm
Updated 26/02/2024, 04:30 pm
© Reuters Tech giants including Nvidia and OpenAI invest in humanoid robot AI start up

Figure AI Inc, a tech start-up building autonomous artificial intelligence-driven humanoid robots for commercial applications, has received sizeable investments from major tech companies like OpenAI, Microsoft (NASDAQ:MSFT), Nvidia Corp and Amazon’s Jeff Bezos through his firm Explore Investments LLC, Bloomberg reports.

The humanoid robot start-up is raising about $675 million in funding according to Bloomberg’s sources, who declined to reveal their identities.

Bezos is apparently fronting $100 million, Microsoft $95 million and a fund affiliated with Nvidia and Amazon (NASDAQ:AMZN) is investing $50 million.

Figure AI’s founder Brett Adcock believes autonomous robots will eliminate the need for unsafe and undesirable jobs, and could potentially address the problem of a global ageing population and labour shortages.

A who’s who of tech

Joining some of the biggest names in tech were more standouts – Intel Corp (NASDAQ:INTC), LG Innotek and Samsung (KS:005930) also made sizeable investments of between $5 and $25 million.

Alongside them were several capital venture firms like Parkway Venture Capital, Align (NASDAQ:ALGN) Ventures, ARK Venture Fund and Aliya Capital Partners.

OpenAI at one point considered acquiring the company, but instead invested $5 million as an initial lead investor alongside Microsoft.

Given Figure AI has received commitments for $675 million while only seeking $500 million in capital, humanoid robots may be the next big AI-related tech venture.

Read more on Proactive Investors AU


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