JP Morgan & Chase, BlackRock, DST Global and Arch Venture Partners have reportedly invested in the lab.

Jeff Bezos’s physical AI lab Project Prometheus has closed a $10bn funding round at a valuation of around $38bn, Bloomberg has confirmed.

A sources has told the publication that JP Morgan & Chase, BlackRock, DST Global and Arch Venture Partners are among those participating in the round. Speculation around the closure of the round was reported earlier this week by the Financial Times (FT).

News of Bezos’s AI venture first surfaced last November. Bezos founded Project Prometheus – a codename for the company – alongside former Google Life Sciences executive Vik Bajaj.

The company builds AI that assists engineering and manufacturing in a number of sectors, including in computers, aerospace and automobiles.

The lab reportedly amassed an initial $6.2bn in November, partly from Bezos himself. Although demand has further extended the raise, FT reported.

The co-founders are also reportedly leading efforts to raise “tens of billions of dollars or more” for a holding company to acquire parts of other companies likely to be disrupted by AI.

Meanwhile, Prometheus also held talks with sovereign investment funds, including from Singapore and Gulf nations. Additionally, it plans to collect stakes in companies across its target sectors for AI training data.

Prometheus had already hired around 100 employees across San Francisco, London and Zurich by November last year, including researchers from OpenAI, Google DeepMind and Meta. FT sources said that the company is hiring people with experience “building out massive infrastructure projects”.

Earlier this month, it was reported that xAI co-founder Kyle Kosic has left his role at OpenAI to join Project Prometheus. According to his LinkedIn profile, Kosic is currently employed as a builder at a stealth start-up.

Kosic worked as xAI’s infrastructure lead and as a member of the technical staff at OpenAI.

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