Prometheus, a physical artificial intelligence (AI) startup co-founded by Amazon's Jeff Bezos and Vik Bajaj, formerly of Google's life sciences unit Verily, has announced a significant funding round, securing approximately £9.5 billion ($12 billion). This latest investment values the company at an estimated £32.5 billion ($41 billion), positioning it as one of the most highly valued AI startups globally.
The substantial capital injection comes from a consortium of prominent investors, including Bezos himself, alongside major financial institutions such as JPMorgan Chase, Goldman Sachs, and BlackRock. This marks the second fundraising round for Prometheus, which initially launched late last year with an impressive £4.9 billion ($6.2 billion) in seed funding, as reported by CNBC.
At the core of Prometheus's mission is the development of what it terms an 'artificial general engineer'. This advanced software system is designed to automate the intricate processes of designing and manufacturing complex physical systems, ranging from sophisticated jet engines to novel drug compounds. The ambition is far-reaching, aiming to significantly reduce the need for extensive human engineering work across various industries.
Despite the potential for automation to displace certain job functions, Jeff Bezos has expressed a distinct perspective on the long-term impact on the workforce. He suggests that the productivity gains delivered by AI will ultimately lead to 'labour scarcity' – a scenario where the demand for human workers outstrips supply. Bezos argues that this rise in economic productivity will elevate living standards, potentially enabling some households to transition from two earners to one, or allowing individuals to reduce overtime hours.
This view contrasts with some other prominent figures in the technology sector who predict widespread job losses due to AI. Prometheus currently employs 150 individuals across its offices in San Francisco, London, and Zurich. While the specifics of its current technological achievements remain undisclosed, Bezos indicated that a substantial portion of the newly raised capital will be allocated to cover the company's significant computational requirements.
Prometheus's valuation underscores a growing investor confidence in the physical AI sector. This area is increasingly seen as inherently more resilient than pure software ventures, largely because the interaction with the physical world creates unique barriers to entry that code alone cannot replicate.
Source: CNBC