Jeff Bezos is closing in on a massive funding deal for his artificial intelligence startup, with reports indicating the company could soon be valued at $38 billion. The lab, operating under the codename Project Prometheus, is reportedly nearing a $10 billion fundraising round, according to the Financial Times.
The round has not yet been finalized, but people familiar with the matter say it is expected to close soon. If completed, it would place the startup among the most highly valued early-stage AI companies globally.
Why Jeff Bezos’ AI startup is drawing so much attention
Unlike many AI firms focused on chatbots and text-based systems, Prometheus is targeting a different frontier: “physical AI.” This involves building models that can understand real-world physics, materials, and engineering processes.
The company is developing systems aimed at industries such as manufacturing, aerospace, automotive, robotics, and drug discovery. The goal is to use AI to streamline complex, manual workflows and improve efficiency.
According to the Financial Times, the lab is “working on AI systems that understand the laws of physics and can be applied across physical industries.” Major institutional investors are already on board. Firms like JPMorgan and BlackRock are participating in the new funding round, according to reports.
The scale of the deal highlights how investor appetite for AI, especially beyond traditional software, continues to grow. Prometheus had already raised $6.2 billion at launch in November 2025, and this new round could push total funding past $16 billion.
This venture marks a notable shift for Bezos. It is his first operational role in a tech company since stepping down as CEO of Amazon in 2021. He is co-leading the company alongside Vikram Bajaj, a former Google X scientist. Both are also deeply involved in fundraising efforts.
Talent, scale, and early momentum
Prometheus has rapidly built a team of over 120 specialists, including researchers from leading AI labs like OpenAI, DeepMind, Meta, and xAI. The company has also made key hires, including infrastructure experts involved in large-scale computing systems.
Its headquarters are in San Francisco, with additional offices in London and Zurich, signaling early global ambitions.
Despite its huge valuation and investor backing, the company remains in its early stages, with no public product demonstrations yet.
The bet on physical AI is significant. Unlike large language models, which rely on widely available data, physical AI depends on scarce, real-world industrial data, making it harder but potentially more defensible, if successful.
Also read: Amazon’s push into robotics is widening after it acquired Fauna Robotics and its humanoid Sprout.