Jeff Bezos reportedly wants $100 billion to buy and transform old manufacturing firms with AI

Jeff Bezos is reportedly looking to raise $100 billion for a new fund, which sources say will be used to buy companies in major industrial sectors and eventually modernize and automate them with AI. cited from The Wall Street Journal.

The effort is related to Bezos’ AI startup, Project Prometheus. Bezos, whose involvement with the company was originally reported in November will serve as co-founder and co-CEO, alongside former Google executive Vik Bajaj.

Launched with $6.2 billion in funding, Prometheus focuses on creating high-level AI models to improve manufacturing and engineering in the aerospace, automotive and other industries. The new manufacturing fund will support that mission by purchasing companies that will ultimately use Prometheus’ models.

According to the WSJ, Bezos recently traveled to Singapore and the Middle East during his mission to raise money for the effort. The plan is to acquire companies in areas such as aerospace, chip manufacturing and defense.

TechCrunch reached out to Bezos through Amazon for more information.