Tech Titans Invest $675M in Figure AI Humanoid Robotics

Tech titans invested into the humanoid robotics initiative led by startup Figure AI With the funding totaling $675 million.

Amazon, Nvidia, and Microsoft, which are the tech titans are significantly investing in the humanoid robotics initiative led by the startup Figure AI.

According to a report by Bloomberg, the venture, which OpenAI and a consortium of investors are supporting is gathering roughly $675 million in funding.

This would put the company’s valuation somewhere around $2 billion. Jeff Bezos, the founder and CEO of Amazon has committed $100 million to the program through Explore Investments LLC, while Microsoft is contributing $95 million to the endeavor.

In addition, Nvidia and a fund associated with Amazon each provided $50 million dollars. OpenAI’s ChatGPT, a chatbot introduced in November 2022 that has gained widespread popularity, is driving the increase in financial funding for artificial intelligence firms.

This achievement has sparked investor interest in this rapidly developing area. OpenAI decided to invest $5 million directly into Figure AI, although earlier discussions had focused on acquisitions.

Additional supporters such as the venture capital arm of Intel, LG Innotek, Samsung’s investment organization and the venture capital companies Parkway Venture Capital and Align Ventures, further strengthen the company’s backing.

OpenAI’s ChatGPT’s success is driving an increase in investment, fueling the growing interest in technology businesses that focus on artificial intelligence.

Tech titans are becoming more and more interested in the possibilities of artificial intelligence technology across a variety of industries, which has prompted the tech titans to investigate opportunities in this field.

Tech titans are showcasing a broader trend of expanding their portfolios to incorporate breakthrough artificial intelligence ventures through the significant investments made in Figure AI.

By positioning themselves to capitalize on the revolutionary power of artificial intelligence, corporations such as Amazon, Nvidia, and Microsoft are preparing themselves to take advantage of the potential for groundbreaking advancements in robotics technology.

Figure AI, which has its headquarters in Sunnyvale, California is making significant progress in constructing humanoid robots capable of traversing various situations and carrying out multiple jobs.

An early indication of the company’s trust in its novel approach to robotics technology was that it raised $70 million in its first round of external fundraising, which took place the previous year. Parkway Venture Capital was the lead investor.

Key organizations such as Amazon, Nvidia, and Microsoft have further validated Figure AI’s promise to disrupt the robotics sector. AI is positioned to revolutionize how industries operate in the future.

The company’s primary focus is on the development of humanoid robots that are suitable for a wide variety of duties, including retail services and warehousing operations.