Big Tech Giants Invest $675 Million in Humanoid Robot Startup Figure AI

Big Tech Giants Invest $675 Million in Humanoid Robot Startup Figure AI

Tech giants including Amazon, Nvidia, and Microsoft are making substantial investments in humanoid robot startup Figure AI, alongside backing from OpenAI and a consortium of other investors. According to Bloomberg, Figure AI is in the process of securing approximately $675 million in funding, with a valuation of around $2 billion.

The funding round, which highlights the growing interest in artificial intelligence startups, sees significant contributions from various sources. Bezos, through his firm Explore Investments LLC, has pledged $100 million, while Microsoft is investing $95 million. Nvidia and an Amazon-related fund are each adding $50 million to the pot.

This surge in investment follows the success of OpenAI’s ChatGPT, a widely popular chatbot launched in November 2022, which has spurred investors to explore opportunities in the burgeoning AI sector. Interestingly, OpenAI, initially considering an acquisition, has decided to invest $5 million in Figure AI instead.

Backing from a consortium of investors further solidifies Figure AI’s position in the market. Notable backers include Intel’s venture capital arm, LG Innotek, Samsung’s investment group, as well as venture firms Parkway Venture Capital and Align Ventures. Additional support comes from ARK Venture Fund, Aliya Capital Partners, and Tamarack, underscoring broad investor interest in the startup.

When approached for comments, major players such as Amazon, Nvidia, Microsoft, and Intel remained tight-lipped. Similarly, Figure AI and other entities mentioned in the report refrained from immediate responses to inquiries.

Headquartered in Sunnyvale, California, Figure AI has been actively developing versatile humanoid robots capable of navigating diverse environments and performing various tasks, from warehouse operations to retail functions. The company previously raised $70 million in its initial external funding round led by Parkway Venture Capital, indicating early confidence in its innovative robotics technology.

Figure AI’s ambitious goal is to deploy humanoid robots into the workforce, addressing labor shortages and tackling dangerous tasks. The company aims to revolutionize industries such as manufacturing, shipping, logistics, warehousing, and retail with its humanoid robotics solutions.

The reported funding round, if finalized, would mark a significant milestone for Figure AI, enabling it to further advance its technology and expand its presence in the rapidly evolving AI robotics industry. With a diverse group of investors backing its vision, Figure AI is poised to make significant strides in the development and deployment of human-like robots tailored for real-world applications.

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