Bezos Fund Targets USD 100 Billion for AI Manufacturing Acquisitions
- 2 hours ago
- 1 min read
Jeff Bezos is reportedly in early discussions to raise USD 100 billion for a new fund. This fund aims to acquire manufacturing companies and integrate artificial intelligence to enhance automation, the Wall Street Journal reported.
Amazon.com founder Bezos is holding talks with some of the world's biggest asset managers to secure funding for the project. He traveled to the Middle East a few months ago to discuss the new fund with sovereign wealth representatives in that region, according to the report.
Described in investor documents as a "manufacturing transformation vehicle," the fund aims to target companies in major industries. These include chipmaking, defence, and aerospace, the Journal said.
The New York Times previously reported that Bezos would serve as co-Chief Executive Officer of a new startup named Project Prometheus. This startup focuses on artificial intelligence for engineering and manufacturing computers, automobiles, and spacecraft.
Project Prometheus is separately in talks to raise up to USD 6 billion in funding, the Wall Street Journal said, citing people familiar with the matter. It recently named Blue Origin Chief Executive Officer David Limp to its board of directors.
A Financial Times report stated that Project Prometheus raised USD 6.2 billion late last year.
Jeff Bezos is seeking to raise USD 100 billion for a new fund.
The fund plans to acquire manufacturing companies and implement AI for automation.
Targeted industries include chipmaking, defence, and aerospace.
Source: REUTERS
Comments