Amazon founder Jeff Bezos is launching a formidable new artificial intelligence venture, Project Prometheus, which is reportedly raising tens of billions of dollars to acquire and transform companies within the industrial sector. According to reports, the AI lab is valued at approximately $30 billion even before this new capital infusion, signaling a major new player in the enterprise AI space.
A New Industrial Revolution
The core mission of Project Prometheus is to leverage AI to fundamentally reshape traditional industries. The venture aims to acquire companies impacted by advancements in artificial intelligence and use the technology to optimize and innovate sectors like engineering, manufacturing, and logistics for computers, automobiles, and spacecraft.
This strategy suggests a belief that AI’s next major disruption will occur not just in software and services but deep within the physical economy, enhancing supply chains and production processes on a global scale.
MENA Sovereign Wealth on the Radar
Significantly for the MENA region, Project Prometheus is said to be in early discussions with several large sovereign wealth funds, with the Abu Dhabi Investment Authority (ADIA) specifically named as a potential investor. The involvement of one of the world’s largest sovereign wealth funds underscores the global appeal of the venture and highlights the region’s strategic interest in backing transformative AI technologies.
In addition to MENA-based capital, Bezos is also reportedly in talks with JPMorgan CEO Jamie Dimon about a potential investment from the bank’s $10 billion Security and Resiliency Initiative, a fund designed to strengthen critical American supply chains.
Bezos’s Return to an Operational Role
The launch of Project Prometheus marks Jeff Bezos’s first formal operational role since he stepped down as CEO of Amazon in 2021. He will serve as co-CEO of the new startup, working alongside co-founders Sherjil Ozair and William Guss. While Bezos is actively involved in his space exploration company Blue Origin, his official title there is Founder, making his co-CEO position at the new AI lab a significant return to day-to-day leadership.
About Project Prometheus
Project Prometheus is an artificial intelligence lab founded by Jeff Bezos, Sherjil Ozair, and William Guss. The venture is focused on applying AI to reshape the industrial sector, including engineering and manufacturing for complex products like automobiles and spacecraft. With a reported valuation of $30 billion, the company plans to raise substantial capital to acquire and transform businesses impacted by AI technology.
Source: Zawya
