A new artificial intelligence venture led by Jeff Bezos is preparing to raise tens of billions of dollars to acquire industrial companies expected to be reshaped by AI, according to a report by Financial Times.
The project, operating under the code name Project Prometheus, is co-led by Bezos and former Google executive Vikram Bajaj. The company raised $6.2 billion last year at a valuation of about $30 billion, with fresh funding discussions now underway. Potential investors include the Abu Dhabi Investment Authority, while discussions have also taken place with JPMorgan Chase chief executive Jamie Dimon.
Prometheus is planning a separate holding structure described as a manufacturing transformation vehicle, which would deploy tens of billions of dollars to acquire businesses in sectors such as jet engine production and semiconductor manufacturing.
Unlike many AI firms focused on chatbots, the company aims to develop systems that analyze and optimize complex industrial processes to improve efficiency and reduce resource use.
Bezos, who stepped down as chief executive of Amazon in 2021, is serving as co-chief executive. The company has recruited more than 100 employees, including researchers from OpenAI, Google DeepMind, and Meta, with headquarters in San Francisco and offices in London and Zurich.
