Figure AI Inc. announced that it expects to receive $675 million in funding from a group of investors
February 22, 2024
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Figure AI Inc. has announced that t has raised $675 million in a round of funding on January 23, 2024. The transaction included participation from new investors Microsoft Corporation, invested $95 million, Explore Investments LLC invested $100 million, Intel?s venture capital arm, Amazon affiliated funds, invested $50 million, Samsung?s investment group, NVIDIA Corporation invested $50 million, LG Innotek Co. Ltd., invested 8.5 million, ARK Investment Management LLC invested $2.5 million, Boscolo Intervest Ltd, invested $15 million, OpenAI, L.L.C. invested $5 million, returning investors Parkway Venture Capital LLC invested $100 million, Tamarack Global, invested $27 million, Aliya Capital Partners LLC, invested $20 million, Bold Capital Partners invested $2.5 million, Align Ventures Special Opportunity GP SPV I, LLC, invested $90 million.
The transaction raised at a pre money valuation of $2,000 million.
NVIDIA Corporation is the world leader in the design, development, and marketing of programmable graphics processors. The group also develops associated software. Net sales break down by family of products as follows:
- computing and networking solutions (55.9%): data center platforms and infrastructure, Ethernet interconnect solutions, high-performance computing solutions, platforms and solutions for autonomous and intelligent vehicles, solutions for enterprise artificial intelligence infrastructure, crypto-currency mining processors, embedded computer boards for robotics, teaching, learning and artificial intelligence development, etc.;
- graphics processors (44.1%): for PCs, game consoles, video game streaming platforms, workstations, etc. (GeForce, NVIDIA RTX, Quadro brands, etc.). The group also offers laptops, desktops, gaming computers, computer peripherals (monitors, mice, joysticks, remote controls, etc.), software for visual and virtual computing, platforms for automotive infotainment systems and cloud collaboration platforms.
Net sales break down by industry between data storage (55.6%), gaming (33.6%), professional visualization (5.7%), automotive (3.4%) and other (1.7%).
Net sales are distributed geographically as follows: the United States (30.7%), Taiwan (25.9%), China (21.5%) and other (21.9%).