Amazon founder Jeff Bezos is reportedly in early discussions about raising $100 billion for a new effort that would purchase manufacturing companies and aim to utilize artificial intelligence (AI) technology for automation.Bezos has been hosting meetings with some of the biggest asset managers worldwide in an effort to notch funding for the initiative, The Wall Street Journal (WSJ) reported Thursday.
The billionaire went to the Middle East in recent months to discuss the new effort with sovereign wealth representatives in the area, and also recently traveled to Singapore to raise money for the AI manufacturing fund, the WSJ reported, citing anonymous sources familiar with the matter.
The new fund, which investor documents described as a “manufacturing transformation vehicle,” seeks to obtain companies across key industrial sectors including semiconductor production, defense, and aerospace, according to the WSJ. It would surpass many of the world’s largest buyout funds in size and compete
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!