Billionaire entrepreneur Jeff Bezos is exploring the creation of a roughly $100 billion investment fund focused on acquiring manufacturing companies and applying artificial intelligence to improve automation, the Wall Street Journal reported.
The proposed vehicle, described as a “manufacturing transformation” fund, would target industries including chipmaking, aerospace and defense, according to the report.
Bezos has held discussions with major asset managers as well as sovereign wealth funds in the Middle East and Singapore to secure backing, according to the Journal.
At the center of the strategy is Project Prometheus, an artificial intelligence startup where Bezos serves as co-CEO. The company is developing models designed to simulate real-world physics, such as airflow over aircraft wings and stress points in industrial materials, with plans to offer advanced engineering tools while enhancing efficiency across portfolio companies.
Project Prometheus is also in talks to raise up to $6 billion in fresh funding, the report said. The startup has attracted talent from leading AI groups including OpenAI and Google DeepMind.
Separately, Reuters has reported that Project Prometheus raised $6.2 billion late last year, citing the Financial Times. Bloomberg previously reported that the company has been recruiting artificial intelligence specialists globally, including in hubs such as San Francisco, London and Zurich.
Meanwhile, JPMorgan Chase has held preliminary discussions about supporting the broader initiative through a new $10 billion fund focused on economic resiliency, the Wall Street Journal reported.