Jeff Bezos is reportedly aiming to raise $100 billion for a new fund to purchase companies in significant industrial sectors and modernize them with AI, according to sources reported by The Wall Street Journal.
This initiative is associated with Bezos’ AI startup, Project Prometheus. Bezos, identified as co-founder and co-CEO with former Google executive Vik Bajaj, was first connected to the company in November.
Prometheus, which began with $6.2 billion in funding, focuses on developing advanced AI models to enhance manufacturing and engineering in aerospace, automotive, and other industries. The new manufacturing fund will support this by acquiring companies that will use Prometheus’ models.
Bezos recently traveled to Singapore and the Middle East to raise funds for this endeavor, planning acquisitions in fields such as aerospace, chipmaking, and defense.
TechCrunch contacted Bezos through Amazon for further details.