Jeff Bezos is reportedly seeking $100 billion for a new fund that will be used to acquire companies in key industrial sectors and ultimately modernize and automate them through AI, according to sources cited by the Wall Street Journal.
These efforts are related to Bezos’ AI startup, Project Prometheus. Bezos, whose involvement in the company was first reported last November, serves as co-founder and co-CEO alongside former Google executive Vik Bajaj.
Prometheus, which 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 this mission by purchasing companies that will ultimately use Prometheus’ model.
According to WSJ, Bezos recently traveled to Singapore and the Middle East to raise funds. It plans to acquire companies in fields such as aerospace, chip manufacturing, and defense.
TechCrunch reached out to Bezos through Amazon for more information.
