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Microsoft and OpenAI Lead $500 Million Funding Round for Figure AI Inc.

TL;DR

  • Microsoft and OpenAI lead a $500 million funding round for Figure AI, pushing its valuation to $1.9 billion.
  • Figure AI is developing lifelike robots, like Figure 01, to tackle dangerous tasks and labor shortages.
  • The AI robotics industry is booming, with other startups securing substantial funding, showing the growing role of AI-powered robots.

Figure AI Inc., a pioneering AI-powered robotics startup, is reportedly negotiating to secure up to $500 million in funding. According to insider sources familiar with the matter, the funding round that is said to be spearheaded by tech giants Microsoft Corp. and OpenAI has the potential to catapult Figure AI’s pre-money valuation to an impressive $1.9 billion.

Investment from Tech Titans

In a scenario currently under discussion, Microsoft is contemplating an investment of approximately $95 million, while OpenAI is considering contributing $5 million to this groundbreaking funding effort. 

It is worth noting that these investment amounts remain subject to change as negotiations progress, and the deals may evolve or even fail to materialize. Official statements from Microsoft, OpenAI, and Figure AI are yet to be released.

Figure AI’s vision and endeavors

Figure AI Inc. has embarked on a mission to develop highly advanced robots, known as Figure 01, that resemble humans in appearance and motion. The startup envisions a future where these AI-powered machines can undertake difficult tasks unsuitable for human workers, ultimately addressing labor shortages in various industries. This ambitious undertaking positions Figure AI at the forefront of innovation in AI robotics.

AI robotics has recently witnessed a surge in activity and investment. This month, Norwegian AI robotics startup 1X Technologies AS secured an impressive $100 million in funding with support from OpenAI

Meanwhile, Sanctuary AI, headquartered in Vancouver, is actively developing the humanoid robot Phoenix. Additionally, the visionary entrepreneur Elon Musk has previously disclosed Tesla Inc.’s ambitions to create a robot called Optimus.

Future prospects for Figure AI

With the potential infusion of $500 million in funding, Figure AI Inc. stands poised to accelerate the development of its humanlike robots and bring them closer to commercial viability. The startup’s innovative approach has garnered attention and support from influential players in the tech industry, signifying the growing importance of AI-powered robotics in various sectors.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Benson Mawira

Benson is a blockchain reporter who has delved into industry news, on-chain analysis, non-fungible tokens (NFTs), Artificial Intelligence (AI), etc.His area of expertise is the cryptocurrency markets, fundamental and technical analysis.With his insightful coverage of everything in Financial Technologies, Benson has garnered a global readership.

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