Microsoft, OpenAI and Nvidia back robot startup
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The news: Tech giants Microsoft, OpenAI and Nvidia are backing a Silicon Valley-based startup, Figure AI, that seeks to transform the global labour market by building AI powered robots for the workforce.
The numbers: The USD675 million ($1.4 billion) funding round backed by the tech players values the company at USD2.6 billion.
The context: Shared via a post on X, Figure added that it signed a collaboration agreement with OpenAI to develop next generation AI models for its “humanoid robots.” The funding round will be used to ramp up Figure’s timeline for the deployment of the commercial robots, and will specifically target AI training, manufacturing, deploying more robots, expanding engineering headcount, and advancing commercial deployment efforts.
Additional investors in the funding round include Jeff Bezos (through Bezos Expeditions), Parkway Venture Capital, Intel Capital, and Align Ventures.
The post added that Figure will use Microsoft Azure for its AI infrastructure, training and storage.
The sources: Figure AI X post, Financial Times
