Project Prometheus seeks $10B round at $38B valuation with JPMorgan, BlackRock

Jeff Bezos-led AI laboratory Project Prometheus is reportedly nearing a $10 billion fundraising round at a $38 billion valuation, with JPMorgan and BlackRock among the investors. The company, code-named Project Prometheus and co-led by CEO Vikram Bajaj, aims to build “physical AI” systems that learn through interaction with the real world. Project Prometheus launched in November 2025 with $6.2 billion in funding and has scaled to 120+ employees from OpenAI, xAI, Meta, and DeepMind. Its focus is not standard language modeling; it targets domains like manufacturing, aerospace, robotics, drug discovery, and logistics automation, where models need specialized proprietary data on material behavior, engineering tolerances, and industrial processes. The venture also plans a separate capital effort: it is seeking up to $100 billion for a dedicated investment holding company. That vehicle would take majority or minority stakes in architecture, engineering, and construction (AEC) firms vulnerable to AI disruption, then feed portfolio data back into Project Prometheus’s models. Broader context: AI startups raised $242 billion in Q1 2026 (about 80% of global venture funding), per Crunchbase. The AI-in-manufacturing market is estimated at ~$34 billion in 2025 and projected to reach ~$155 billion by 2030, while manufacturing’s total addressable market is ~$16.8 trillion and AI penetration remains below 1%. For traders, this is an enterprise AI capital-development headline tied to “physical AI,” which can reinforce tech-sector risk appetite rather than directly moving liquid crypto markets.