Tech giants Amazon, Nvidia, and Microsoft are directing substantial investments into the humanoid robotics venture led by startup Figure AI. The venture, supported by OpenAI and a consortium of investors, is in the process of securing approximately $675 million in funding, pegging the company’s valuation at around $2 billion, as reported by Bloomberg.

Amazon’s Jeff Bezos, through his firm Explore Investments LLC, has pledged $100 million, while Microsoft is injecting $95 million into the initiative. Additionally, Nvidia and an Amazon-related fund are each contributing $50 million. This surge in financial backing for artificial intelligence startups follows the success of OpenAI’s ChatGPT, a widely popular chatbot launched in November 2022, sparking investor interest in this rapidly evolving sector.

Despite earlier discussions of acquisition, OpenAI has chosen to invest $5 million directly into Figure AI. The company’s support is further bolstered by a range of other backers, including Intel’s venture capital arm, LG Innotek, Samsung’s investment group, and venture firms Parkway Venture Capital and Align Ventures.

Growing Interest in AI Startups Drives Investment Surge

The growing interest in artificial intelligence startups is fueling a surge in investment, driven by the success of OpenAI’s ChatGPT. Investors are increasingly drawn to the potential of AI technology across various sectors, prompting major tech companies to explore opportunities in this domain.

The significant investments in Figure AI underscore the broader trend of tech giants diversifying their portfolios to include innovative AI ventures. With the potential for groundbreaking advancements in robotics technology, companies like Amazon, Nvidia, and Microsoft are positioning themselves to capitalize on the transformative power of AI.

Also Read: AI Giant NVIDIA Surpasses $2T Market Cap Post-Earning Boom

Figure AI’s Advancements in Humanoid Robotics Technology

Figure AI, headquartered in Sunnyvale, California, is making substantial strides in the development of versatile humanoid robots capable of navigating diverse environments and performing a multitude of tasks. In its initial external funding round last year, the company raised $70 million led by Parkway Venture Capital, signaling early confidence in its innovative approach to robotics technology.

The investments from major players like Amazon, Nvidia, and Microsoft further validate Figure AI’s potential to revolutionize the robotics industry. With a focus on creating humanoid robots suited for tasks ranging from warehouse operations to retail functions, Figure AI is poised to reshape the way industries operate in the future.

The post Tech Titans Join OpenAI in $675M Funding for Figure AI’s Humanoid Robotics appeared first on CoinGape.

---

Filed under: News - @ January 1, 1970 12:00 am