Jeff Bezos is reportedly seeking $100 billion for a new fund that will be used to buy companies in key industry sectors and eventually modernize and automate companies with AI, according to sources cited by the Wall Street Journal.
This initiative is related to Bezos’ AI startup Project Prometheus. Bezos, whose involvement in the company was first reported in November, is co-founder and co-CEO along with former Google executive Vik Bajaj.
Prometheus, launched with $6.2 billion in funding, is focused on creating high-level AI models to improve manufacturing and engineering in aerospace, automotive, and other fields. The new manufacturing fund will support that mission by eventually acquiring companies that use Prometheus’ model.
Bezos recently traveled to Singapore and the Middle East on a mission to raise funds for the effort, according to the WSJ. The company plans to acquire companies in fields such as aerospace, chip manufacturing and defense.
TechCrunch reached out to Bezos via Amazon for more information.
