Microsoft, OpenAI in Talks to Fund Figure AI&#8217;s Humanoid Robots
Earlier this month, 1X Technologies AS, a Norwegian AI robotics startup backed by OpenAI, raised $100 million. Now, Microsoft Corp. and OpenAI are discussing a potential investment of up to $500 million with Figure AI Inc., reflecting the increasing focus on humanoid robots. In a proposed arrangement, Microsoft is expected to contribute approximately $95 million, while OpenAI plans to invest $5 million. The deal, if finalized, could value Figure AI at about $1.9 billion before the funding. This valuation does not include the new funds. Depending on the final amount raised, Figure AI’s value after the investment could rise significantly, potentially doubling its status as a unicorn. However, it’s important to note that the funding round is still in progress, and details like investment amounts may change. Figure AI is developing an AI-powered robot, named Figure 01, designed to resemble and move like a human. The company’s aim for this robot is to undertake hazardous jobs not suitable for humans, addressing labor shortages. Last May, Figure AI raised $70 million in a round led by Parkway Venture Capital. Brett Adcock, the CEO, expressed ambitions for the company to be among the pioneers in launching useful, commercially viable humanoid robots. Figure AI, developed the Figure 01 humanoid robot to be a general-purpose robot with the ability to think, learn, and interact with its environment. It is intended to support the supply chain on a global scale and address labor shortages by performing structured and repetitive tasks. It is designed for initial deployment into the workforce, with the potential for use in various industries such as manufacturing, warehousing, and retail.
Microsoft and OpenAI discuss investing up to $500 million in Figure AI Inc. The deal could value Figure AI at $1.9 billion.
Microsoft and OpenAI discuss investing up to $500 million in Figure AI Inc. The deal could value Figure AI at $1.9 billion.
["Fund Raising"]
["API", "funding", "unicorn", "OpenAI", "AI", "programming_languages:R", "venture capital", "Fund Raising", "Aim", "R", "startup"]
["AI", "OpenAI", "Aim", "R", "API", "startup", "unicorn", "venture capital", "funding", "programming_languages:R"]
K L Krithika is a tech journalist at AIM. Apart from writing tech news, she enjoys reading sci-fi and pondering the impossible technologies, trying not to confuse it with reality.