Protect Prometheus, AI lab co-led by Jeff Bezos, has reportedly raised $10 billion in fresh funding. According to a report by Bloomberg, the funding round included participation from major firms such as JPMorgan Chase and BlackRock, though no single lead investor has been named.
The AI lab is now valued at around $38 billion. For those unaware, Project Prometheus is focused on building AI tools that help design and manufacture physical products. The company is targeting industries beyond traditional software, with a focus on manufacturing and engineering.As per Bloomberg, the startup has attracted investors from outside Silicon Valley, including private equity firms and sovereign wealth funds with strong ties to industrial sectors.
Among technology-focused investors, firms like DST Global and ARCH Venture Partners are involved.
Jeff Bezos returns to executive role
Jeff Bezos, who stepped down as CEO of Amazon in 2021, is serving as co-CEO of the startup alongside Vik Bajaj, a former Google executive. The report said Bezos is actively involved in the company’s operations and holds frequent discussions with Bajaj on strategy and growth. The company has also been in talks with sovereign wealth funds in regions such as the Middle East and Singapore as it looks to expand its investor base.
According to a Wall Street Journal report in March, Bezos has travelled to the Middle East to discuss the new fund with sovereign wealth representatives in the region. The Amazon founder also travelled to Singapore to raise funding for the effort as well, the report then said citing people familiar with the matter.
What is Project Prometheus
Project Prometheus is building AI systems that are able to simulate how the physical world behaves. “For example, its technology might be able to simulate how air flows around an airplane wing, or predict exactly where a metal part will crack under pressure,” a WSJ report explains.
Project Prometheus has already hired talent from major AI companies including OpenAI and Google DeepMind. It appointed David Limp, the CEO of the rocket company Blue Origin, to its board of directors.“Bezos plans to use the company’s technology to boost the efficiency and profitability of businesses owned by the fund, a playbook that some investment firms are similarly deploying in sectors such as accounting and property management,” the publication said.
