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Jeff Bezos is in early discussions to raise $100 billion for a new fund to acquire manufacturing companies and use AI to accelerate automation, the Wall Street Journal reported on Thursday.
The Amazon.com founder is holding talks with some of the world's biggest asset managers to secure funding for the project, the WSJ said.
Bezos travelled to the Middle East a few months ago to discuss the new fund with sovereign wealth representatives, according to the report.
Described in investor documents as a "manufacturing transformation vehicle", the fund aims to target companies in major industries such as chipmaking, defence, and aerospace, The Journal said.
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Last year, The New York Times reported that Bezos would serve as co-CEO of a new startup called Project Prometheus focused on AI for engineering and manufacturing computers, automobiles and spacecraft.
Project Prometheus is separately in talks to raise $6 billion in funding, the WSJ said, citing people familiar with the matter. It recently named David Limp, Blue Origin's CEO, to its board of directors. * Project Prometheus raised $6.2 billion late last year, according to a Financial Times report from February.
Bezos could not be immediately reached for comment. The project's co-founders, Sherjil Ozair and William Guss, did not respond to Reuters' requests for comment on LinkedIn
The Amazon.com founder is holding talks with some of the world's biggest asset managers to secure funding for the project, the WSJ said.
Bezos travelled to the Middle East a few months ago to discuss the new fund with sovereign wealth representatives, according to the report.
Described in investor documents as a "manufacturing transformation vehicle", the fund aims to target companies in major industries such as chipmaking, defence, and aerospace, The Journal said.
Read More: No Congress MP to contest Kerala Assembly polls, party banks on state leaders
Last year, The New York Times reported that Bezos would serve as co-CEO of a new startup called Project Prometheus focused on AI for engineering and manufacturing computers, automobiles and spacecraft.
Project Prometheus is separately in talks to raise $6 billion in funding, the WSJ said, citing people familiar with the matter. It recently named David Limp, Blue Origin's CEO, to its board of directors. * Project Prometheus raised $6.2 billion late last year, according to a Financial Times report from February.
Bezos could not be immediately reached for comment. The project's co-founders, Sherjil Ozair and William Guss, did not respond to Reuters' requests for comment on LinkedIn
