Jeff Bezos, Nvidia Corp. and other prominent figures in the tech industry are backing a company working on creating robots with human-like qualities. This move reflects a growing interest in exploring the potential uses of artificial intelligence.
Figure AI Inc., supported by OpenAI and Microsoft Corp., is currently in the process of raising approximately $675 million in a funding round with a pre-money valuation of around $2 billion, according to sources familiar with the matter. Bezos, through his firm Explore Investments LLC, has pledged $100 million. Microsoft is making a $95 million investment, with Nvidia and an Amazon.com Inc.-affiliated fund each contributing $50 million, as per Bloomberg.
Figure AI's Humanoid Revolution
Figure AI aims to revolutionize the workforce with its first humanoid robot, Figure 01, designed to undertake tasks deemed too perilous for human labor, potentially mitigating shortages in the workforce.
The humanoid machine has already showcased its capabilities by successfully brewing a cup of coffee, demonstrating its versatility and practicality in everyday activities. CEO Brett Adcock expressed optimism, stating, "We hope that we're one of the first groups to bring to market a humanoid that can actually be useful and engage in commercial activities."
Just over six months after securing a substantial $70 million in funding last May, Figure AI sealed an unprecedented deal to deploy Figure 01 on BMW's factory floors. The German automaker has committed to utilizing the humanoids at its sprawling Spartanburg, South Carolina plant, encompassing high-voltage battery assembly and electric vehicle manufacturing.
While the specific responsibilities of Figure 01 at BMW remain undisclosed, both companies emphasized their commitment to exploring cutting-edge technologies such as artificial intelligence, robot control, manufacturing virtualization, and robot integration. This collaboration signifies a significant leap towards achieving science fiction-levels of advanced automation, Daily Mail reported.
Capabilities Garner Major Tech Investments
Adcock asserted that, in his perspective, Figure AI's robots possess the capability to perform nearly every task undertaken by humans. These claims have not gone unnoticed, capturing the attention and substantial investments from major tech entities.
Notable backers include Nvidia, contributing $50 million, Amazon.com Inc.-affiliated venture fund, Intel Corp with a $25 million investment, Samsung's $5 million, and LG Innotek's commitment of $8.5 million. Moreover, prominent figures like Jeff Bezos and Microsoft Corporation are reportedly aiding Figure AI Inc. in raising approximately $675 million in funding, as disclosed by a Bloomberg report.
Figure AI's ambitious vision involves creating autonomous humanoid workers to address labor shortages in the face of a diminishing workforce. The company's flagship robot, Figure 01, boasts AI-powered autonomy, enabling it to think, learn, and interact safely alongside humans, particularly in hazardous warehouse environments.
Major contributions from OpenAI, Nvidia Corp., Amazon founder Jeff Bezos through Explore Investments, LLC, and Microsoft's $95 million investment underscore the industry's confidence in Figure's mission. With a pre-money valuation of around $2 billion, Figure AI's funding surge aligns with the broader AI boom, with companies like Tesla concurrently exploring their ventures into robotics, Business Insider reported.
