Jeff Bezos’ AI lab nears $38 billion valuation in funding deal, FT reports

April 20 (Reuters) – Jeff Bezos‘ artificial intelligence lab is close to raising $10 ‌billion in a new funding round, ‌valuing the new startup called Project Prometheus at $38 billion, ​the Financial Times reported on Monday, citing sources.

The fundraising comes amid strong investor enthusiasm for AI companies as heavy technology spending ‌reshapes businesses ⁠across sectors.

• JPMorgan and BlackRock are among the investors in the ⁠new round, the newspaper said, adding that the fundraising was expected to close soon ​but had ​not been finalized.

• ​The startup is ‌focused on AI for engineering and manufacturing computers, automobiles and spacecraft, according to media reports.

• Amazon.com founder Bezos is among the initial investors in the venture and has ‌been leading fundraising effort ​alongside co-chief executive Vikram ​Bajaj, the ​report said.

• BlackRock declined to ‌comment. JPMorgan and the project’s ​co-founders, Sherjil ​Ozair and William Guss, did not immediately respond to Reuters’ requests for ​comment. Bezos ‌could not be reached for comment.

(Reporting ​by Carlos Méndez in Mexico City; ​Editing by Subhranshu Sahu)