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Jeff Bezos’s AI lab nears $38bn valuation in funding deal

Company code-named Project Prometheus is working on models for industrial applications

Jeff Bezos is close to a $10bn fundraising deal from investors at a $38bn valuation for his lab, which is focused on AI that can understand the physical world and transform engineering and manufacturing.

The company, code-named Project Prometheus, is planning to imminently close a funding round at a valuation of $38bn, including the new money, according to people familiar with the deal.

The agreement, which would make the company one of the best-financed early-stage start-ups globally, includes an initial $6.2bn raised in November but has been extended because of demand, the people added. Bezos is among the initial investors.

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