Amazon founder Jeff Bezos is reportedly stepping back into an operational role, taking the helm as co-chief executive of a new AI venture, Project Prometheus. The startup has already secured a staggering $6.2 billion in funding, signaling a major new entrant into the competitive artificial intelligence landscape.
This move marks Bezos’s first return to day-to-day operations since he stepped away from his CEO position at Amazon in 2021.
Star-Studded Leadership
Bezos will share the co-CEO title with Vik Bajaj, a prominent figure in the life sciences and technology sectors. Bajaj previously co-founded and led Google’s life sciences division and also co-founded Verily, Alphabet’s biotech subsidiary. More recently, he co-founded Foresite Labs, an AI-focused affiliate of investment firm Foresite Capital, which he reportedly left to launch this new venture.
The company has already assembled a team of nearly 100 people, recruiting top talent and researchers from leading AI firms including Meta, OpenAI, and Google DeepMind.
AI For The Physical Economy
Project Prometheus is setting its sights on developing artificial intelligence products for the engineering and manufacturing sectors. According to reports, its focus is on “AI for the physical economy,” with applications planned for industries such as computers, aerospace, and automobiles.
The startup’s approach is said to be similar to that of Periodic Labs, which builds technology to accelerate scientific research by creating simulations of the physical world to train advanced AI models.
What This Means For The MENA Region
While Project Prometheus is a global tech story, its emergence carries significant implications for the MENA region. The startup’s focus on industrial and manufacturing AI directly aligns with the economic diversification goals of major regional economies, such as Saudi Arabia’s Vision 2030 and the UAE’s Operation 300bn initiative.
The entry of a heavyweight like Bezos into this specific AI niche validates the immense market potential for technologies that digitize and optimize the physical economy. This could spur further investment from regional VCs and sovereign wealth funds into local and international industrial AI startups. For MENA-based founders in this space, it signals a growing global appetite for solutions in AI-driven manufacturing, logistics, and engineering.
About Project Prometheus
Project Prometheus is a new AI startup focused on building solutions for the physical economy. The company aims to develop AI products for engineering and manufacturing across various sectors, including computers, aerospace, and automobiles.
Source: TechCrunch
