Jeff Bezos aims to raise $100 billion to buy, revamp manufacturing firms with AI: Report
Jeff Bezos is in early discussions to raise $100 billion for a new fund that would acquire manufacturing companies and seek to use AI to drive and speed up automation, the Wall Street Journal reported on Thursday.
The Amazon.com founder is holding talks with some of theworld's biggest asset managers to secure funding for theproject, WSJ said. Bezos traveled to the Middle East to discuss the new fundwith sovereign wealth representatives in the region a few monthsago, according to the report.
Described in investor documents as a "manufacturingtransformation vehicle," the fund aims to target companies inmajor industries such as chipmaking, defense, and aerospace, theJournal said. Last year, The New York Times reported that Bezos wouldserve as co-CEO of a new startup called Project Prometheusfocused on AI for engineering and manufacturing computers,automobiles and spacecraft.
Project Prometheus is separately in talks to raise up to$6 billion in funding, WSJ said, citing people familiar with thematter. It recently named David Limp, Blue Origin's CEO, to itsboard of directors. Project Prometheus raised $6.2 billion late last year,according to a Financial Times report from February. Bezos could not be immediately reached for comment. Theproject's co-founders, Sherjil Ozair and William Guss, did notrespond to Reuters requests for comment on LinkedIn.
The Amazon.com founder is holding talks with some of theworld's biggest asset managers to secure funding for theproject, WSJ said. Bezos traveled to the Middle East to discuss the new fundwith sovereign wealth representatives in the region a few monthsago, according to the report.
Described in investor documents as a "manufacturingtransformation vehicle," the fund aims to target companies inmajor industries such as chipmaking, defense, and aerospace, theJournal said. Last year, The New York Times reported that Bezos wouldserve as co-CEO of a new startup called Project Prometheusfocused on AI for engineering and manufacturing computers,automobiles and spacecraft.
Project Prometheus is separately in talks to raise up to$6 billion in funding, WSJ said, citing people familiar with thematter. It recently named David Limp, Blue Origin's CEO, to itsboard of directors. Project Prometheus raised $6.2 billion late last year,according to a Financial Times report from February. Bezos could not be immediately reached for comment. Theproject's co-founders, Sherjil Ozair and William Guss, did notrespond to Reuters requests for comment on LinkedIn.
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