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Creating the "Prometheus" Plan: Reportedly, Bezos Plans to Raise Hundreds of Billions of Dollars to Enter the AI Industrial Revolution
According to reports, the artificial intelligence (AI) laboratory under Jeff Bezos is raising billions of dollars in funding to acquire industrial companies affected by AI technology. The Amazon (AMZN.US) founder believes this technological revolution will reshape the entire industrial sector, and this large-scale financing is aimed at seizing the opportunities within it.
Reports cite two informed sources stating that this financing values the institution at approximately $30 billion, a figure that does not yet include new investments in this round.
Last year, reports indicated that Bezos would serve as co-CEO of a startup called “Project Prometheus.” The project focuses on AI research and development for the engineering, manufacturing, computing, automotive, and aerospace sectors.
This also marks Bezos’s first official operational management role at a company since he stepped down as CEO of Amazon in July 2021. While he is also involved in matters related to Blue Origin, his official title at that company is simply founder.
The report states that Project Prometheus is in preliminary talks with several large sovereign wealth funds, including the Abu Dhabi Investment Authority, regarding equity investment in its holding company.
Additionally, Bezos is also discussing investment matters with JPMorgan Chase CEO Jamie Dimon. The related funding may come from the bank’s $10 billion “Security and Resiliency Initiative Fund,” which aims to strengthen the supply chains of critical industries in the United States.
Currently, Bezos’s team has not responded to requests for comment. The project’s co-founders, Shergill Ozair and William Gus, were also unable to receive comment requests sent via LinkedIn outside of working hours.