Investors are lining up behind a new artificial intelligence venture tied to Jeff Bezos, which is nearing a roughly $10 billion funding round that would place the startup at about a $38 billion valuation, according to media reports. The company operates under the name Project Prometheus and is focused on building AI tools for engineering and manufacturing use cases.
The prospective financing has attracted heavyweight institutional interest. Sources cited by the reports said JPMorgan and BlackRock are among participants in the funding effort. The fundraising was described as expected to close soon, though it had not been finalized at the time of the reporting.
Project Prometheus is concentrating on AI systems intended to support engineering and production tasks - specifically the design and manufacture of computers, automobiles and spacecraft. Those sector targets suggest the startup’s technology is being pitched toward capital-intensive, precision-driven segments of manufacturing where AI-driven design or automation could play a role.
Bezos is listed among the venture’s initial investors and has taken a leading role in the fundraising process alongside the company’s co-chief executive, Vikram Bajaj. Two co-founders named in the reporting are Sherjil Ozair and William Guss.
Several named firms and individuals did not provide public comment as the fundraising process unfolded. BlackRock declined to comment. JPMorgan and the project’s co-founders did not immediately respond to requests for comment, and Bezos could not be reached for comment.
The size of the round and the reported valuation underscore the depth of current investor interest in AI ventures, especially those that position themselves at the intersection of advanced software and industrial manufacturing. While details on the final structure and timeline of the deal were not available, the participation of large financial institutions signals confidence among some institutional investors in the venture’s strategy and potential market application.
Because the fundraising was described as not finalized, there remains uncertainty about the exact investor mix and final terms. The available reporting provides a snapshot of negotiations that could close soon but had not reached completion at the time of publication.