Jeff Bezos, Nvidia, and Microsoft are leading the charge in what could be the next big leap in artificial intelligence: humanlike robots. Alongside OpenAI, these tech giants are part of a collective investment of $675 million in Figure, an AI robotics startup. This significant funding round has catapulted the company’s valuation to $2.6 billion, signaling strong confidence in the potential of AI-powered robotics.
The investment in Figure is part of a broader trend where tech companies are aggressively funding AI innovations, convinced of the sector’s long-term viability. According to PitchBook, generative AI companies attracted over $29 billion last year alone. Nvidia, a pivotal player in the AI revolution, boasts a market capitalization of approximately $2 trillion, underscoring its stature as one of the largest U.S. companies.
Key takeaways
- Figure, a humanoid robotics startup, raised $675 million at a $2.6 billion valuation.
- The round drew an unusual concentration of strategic backers: Jeff Bezos, Nvidia, Microsoft and OpenAI, alongside Parkway Venture Capital, Align Ventures and Intel Capital.
- Founded in 2022 and based in Sunnyvale, California, Figure builds a faceless humanoid robot intended to perform tasks currently done by people.
- Demonstrations showed the robot moving boxes onto conveyor belts, inserting a pod into a Keurig machine and walking across a room.
- The capital is directed at commercial rollout, with a partnership already announced with BMW for automotive manufacturing.
At the core of this technological advancement is AI’s role in powering chatbots like OpenAI’s ChatGPT and humanoid robots, the latter being Figure’s focus. The startup, established in 2022 and based in Sunnyvale, California, is developing a faceless robot designed to perform tasks traditionally done by humans. Recently, Figure showcased its robots’ capabilities, including completing practical tasks such as moving boxes onto conveyor belts.
Figure’s innovation extends to robots performing everyday tasks, as highlighted in their demonstrations. One robot adeptly inserts a pod into a Keurig coffee machine, while another navigates walking across a room. These glimpses into the future hint at the vast potential of robotics in daily life.
The fresh influx of capital is set to accelerate the commercial rollout of Figure’s robots, with the company already announcing a partnership with BMW for automotive manufacturing applications. Brett Adcock, Figure’s CEO, emphasizes that this investment will significantly advance the integration of embodied AI, promising a transformative impact on society.
Backing Figure, along with the tech moguls, are investors such as Parkway Venture Capital, Align Ventures, and Intel Capital. While Microsoft and Nvidia have opted not to comment, Intel Capital has expressed excitement over humanoid robots’ potential to revolutionize the labor market, showcasing a strong belief in the future of humanlike robots enhancing various sectors.
Frequently asked questions
What is embodied AI?
It refers to AI that acts in the physical world through a body — sensing its surroundings and manipulating objects — rather than producing text or images. CEO Brett Adcock frames Figure's funding as accelerating that shift.
Why are chipmakers and cloud companies backing a robotics startup?
Humanoid robots consume the same underlying AI infrastructure that these companies sell. Nvidia, Microsoft and OpenAI each have an interest in the applications that drive demand for their models and hardware.
How much capital was flowing into this area?
PitchBook recorded over $29 billion invested in generative AI companies in the prior year, against Nvidia's market capitalisation of roughly $2 trillion — the scale that made a $675 million robotics round unremarkable by comparison.
