US EditionJeff Bezos aims to raise $100 billion to buy, revamp manufacturing firms with AI, WSJ reports
Jeff Bezos aims to raise $100 billion from investors in Asia and the Middle East to transform manufacturing using AI from his startup Project Prometheus.
- A Wall Street Journal report says Jeff Bezos, Amazon founder, is in early discussions to raise US$100 billion for a fund to acquire manufacturers and operate alongside Project Prometheus.
- Project Prometheus is focused on improving engineering and manufacturing by building AI models for aerospace, chipmaking, defense, and automotive sectors, deploying them through a manufacturing-transformation fund.
- Project Prometheus launched with US$6.2 billion, and is pursuing up to US$6 billion more, with Bezos and Vik Bajaj as co-CEOs and David Limp on the board.
- Bezos has been meeting major asset managers around the world to raise funds, recently traveling to Singapore and the Middle East to pitch sovereign-wealth representatives, sparking social media and political commentators' concerns about jobs and automation.
- Bezos has argued AI will touch every company, including manufacturers, and Project Prometheus applies AI to physical tasks, potentially supporting his industrial ventures like Blue Origin, Bezos’ rocket company.
23 Articles
23 Articles
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Nemos News NetworkBezos Plots Colossal $100 Billion Fund To Transform Companies Using AI: WSJ
Bezos Plots Colossal $100 Billion Fund To Transform Companies Using AI: WSJ Amazon founder Jeff Bezos is in early discussions to raise as much as $100 billion for a new investment vehicle aimed at acquiring and revitalizing manufacturing companies through the application of artificial intelligence, according to the Wall Street Journal. The proposed fund, described in investor materials as a “manufacturing transformation vehicle,” would target co…
The Amazon founder is already expected to hold talks with major asset managers. The focus is probably on sectors such as chip manufacturing, the armaments industry and aerospace.
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