Microsoft, OpenAI to invest $500M in Tesla’s competitor, Figure AI

The robot maker signed a deal with BMW last month

2 min. read

Published onFebruary 6, 2024

published onFebruary 6, 2024

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Recent reports suggest that Microsoft and OpenAI, the company behind ChatGPT, are in talks with humanoid robot startup, Figure AI, and could potentially invest $500 million.

Though there has been no official confirmation from any of the involved parties, sources privy to the negotiations indicate that multiple scenarios are being discussed. One of which is that Microsoft could invest $95 million while OpenAI’s shares could be $5 million.

If the deal goes through, it would increase Figure AI’s valuation to $1.9 billion, excluding the funding raised, and the company would feature in the list of unicorns.

Figure AI could be transforming the automation landscape

Figure AI has been in the news for the last couple of months. Last year in May, the company raised $70 million in funding led byParkway Venture Capital.

In January, Figure AI CEO, Brett Adcock, confirmed in apost onX(formerly Twitter) that the company will deploy theFigure 01robot in BMW’s car manufacturing facilities to automate tasks conceived as tedious or too risky for humans.

Adcock wants Figure AI to be the first company to successfully deploy humanoid robots and utilize their potential in commercial activities.

Adcock argues that given the massive labour shortage facing the world, automation and robots could provide much-needed resources to keep up with the challenges. He says Figure AI robots would help companies scale their production and operation.

Although, Figure AI faces stiff competition in the market. Agility Robotics has already signed a deal with Amazon to test its robots in the e-commerce giant’s warehouses. Tesla, too, is working aggressively on its humanoid robot, Optimus.

We are keeping a close watch on Microsoft, OpenAI and Figure AI negotiations. But unless there is an official release, we can’t confirm anything.

What’s your take on humanoid robots replacing humans in manufacturing? Share in the comments section below.

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