Jeff Bezos is reportedly seeking $100 billion for a new fund, the likes of which will be used to buy up companies in major industrial sectors and, ultimately, modernize and automate them with AI, according to sources cited by Wall Street Journal.
The effort is related to Bezos’ AI startup, Project Prometheus. Bezos, whose involvement with the company was originally reported in November, is serving as co-founder and co-CEO, alongside former Google executive Vik Bajaj.
Prometheus, which launched with $6.2 billion in funding, is focused on creating high-level AI models to improve manufacturing and engineering in aerospace, automotive, and other sectors. The new manufacturing fund will support that mission by buying up companies that will ultimately use Prometheus’ models.
According to the WSJ, Bezos recently traveled to Singapore and the Middle East in his mission to raise funds for the effort. The plan is to acquire companies in areas like aerospace, chipmaking, and defense.
TechCrunch reached out to Bezos via Amazon for more information.
Source: techcrunch.com
