Project Prometheus, the artificial intelligence laboratory co-led by Amazon founder Jeff Bezos, has reportedly secured $10 billion in fresh funding, according to a report by Bloomberg. The funding round saw participation from major financial institutions such as JPMorgan Chase and BlackRock, though no single lead investor has been named. The AI lab is now valued at approximately $38 billion.
Focus on Physical Product Design and Manufacturing
Project Prometheus specializes in developing AI tools that assist in designing and manufacturing physical products. Unlike traditional software-focused AI companies, Prometheus targets industries such as manufacturing and engineering. The startup's technology can simulate how the physical world behaves, for instance, modeling airflow around an airplane wing or predicting where a metal part might crack under pressure.
Investor Profile Beyond Silicon Valley
According to Bloomberg, the startup has attracted investors from outside the typical Silicon Valley ecosystem, including private equity firms and sovereign wealth funds with strong ties to industrial sectors. Among technology-focused investors, DST Global and ARCH Venture Partners are also involved. The company has been in discussions with sovereign wealth funds in the Middle East and Singapore as it seeks to broaden its investor base.
Jeff Bezos' Active Role as Co-CEO
Jeff Bezos, who stepped down as CEO of Amazon in 2021, serves as co-CEO of the startup alongside Vik Bajaj, a former Google executive. The report indicates that Bezos is actively engaged in the company's operations, holding frequent strategy and growth discussions with Bajaj. In March, a Wall Street Journal report revealed that Bezos traveled to the Middle East and Singapore to meet with sovereign wealth fund representatives to raise capital.
Hiring and Board Appointments
Project Prometheus has recruited talent from major AI companies, including OpenAI and Google DeepMind. The company also appointed David Limp, CEO of Blue Origin, to its board of directors. Bezos plans to leverage the company's technology to enhance the efficiency and profitability of businesses owned by his investment fund, a strategy similar to that deployed by other investment firms in sectors like accounting and property management.
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