Bezos AI lab Project Prometheus raises $10 billion funding round

Investing.com -- Project Prometheus, the artificial intelligence lab co-led by Amazon.com Inc. founder Jeff Bezos and Google veteran Vik Bajaj, has closed a $10 billion funding round that values the company at roughly $38 billion, according to a Bloomberg report Thursday.

JPMorgan Chase & Co. and BlackRock Inc. are reportedly among the firms participating in the round, which has no lead investor. The lab may announce investors in the round in the coming months.

Project Prometheus is focused on developing AI models and tools that help engineer and manufacture physical products. The lab has targeted non-Silicon Valley investors such as private equity firms and sovereign wealth funds with deep exposure to physical industries like manufacturing. The only Silicon Valley-type firms among its investors are DST Global and ARCH Venture Partners.

The lab has held talks with sovereign wealth funds in regions including the Middle East and Singapore. Bezos and Bajaj, who serve as co-chief executive officers, have been meeting with potential investors jointly, with Bezos offering the vision and Bajaj laying out the plans for achieving them.

Bezos is heavily involved as co-CEO and has multiple conversations a day with Bajaj. The role marks Bezos's return to a formal executive post for the first time since stepping down from Amazon in 2021.

The startup has already raised billions of dollars in funding, sourced in part from Bezos himself, and has attracted employees from AI labs like OpenAI and Google DeepMind.

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