Jeff Bezos nears $10 billion funding round for AI lab "Project Prometheus"

Jeff Bezos is about to close a $10 billion funding round for his AI lab codenamed "Project Prometheus," the Financial Times reports. The company is valued at $38 billion. JPMorgan and BlackRock are among the investors.

Prometheus, based in San Francisco with offices in London and Zurich, is building AI systems designed to understand the laws of physics for use in industry, engineering, and manufacturing. Bezos and co-CEO Vikram Bajaj are leading the fundraise. It marks Bezos' first operational role since stepping down as Amazon CEO in 2021.

On top of that, Prometheus is planning a holding company to acquire businesses that could be transformed by its AI technology. The lab recently poached Kyle Kosic, co-founder of xAI. The round started in November at $6.2 billion and was expanded due to high demand, according to the FT.