Microsoft, OpenAI and Nvidia back $2.6bn robot start-up

Posted under: AI technologies
Date: 2024-03-04
Microsoft, OpenAI and Nvidia back $2.6bn robot start-up

Figure AI, backed by investors including Microsoft, OpenAI, and Nvidia, raised $675 million in funding to develop AI-powered humanoid robots for the workforce. With a valuation of $2.6 billion, the company plans to expand AI training, robot manufacturing, and engineering hires. Collaborating with OpenAI and Microsoft, Figure aims to advance AI models for robots and utilize Azure's cloud services. The humanoid robots are intended to fill labor shortages and undertake "undesirable or unsafe" tasks, potentially addressing a projected 2.1 million unfilled manufacturing jobs in the US by 2030. The start-up's partnership with BMW marks its first commercial deployment, set to begin in US factories this year. Nvidia's involvement reflects its position as a key player in the AI chip market, while OpenAI, despite its ties with Microsoft, continues to evolve its management structure after internal challenges.

Read more at: www.ft.com