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The rocket company founded by Jeff Bezos, Blue Origin, is raising private capital, the DealBook newsletter reported early Wednesday.
According to the publication, the company is raising $10 billion, leading to a valuation of $130 billion. Coatue Management, a big asset manager, is expected to lead with a $4 billion commitment. Another $4 billion is expected to come from large institutional investors. And Bezos will contribute an additional $2 billion.
Founded in 2000, Blue Origin is seeking to become a global leader in spaceflight, developing a line of super heavy lift rockets, lunar landers, and plans for two megaconstellations. It is seeking to compete in the same areas—launch, telecommunications, data centers from space—as SpaceX.
In November, Jeff Bezos announced that he would become co-CEO of a new startup called Prometheus. At the time, the startup said it would focus on "physical AI"—an increasingly common term for applying the same deep learning principles behind large language models or generative AI to things like robotics and manufacturing—but specifics were scarce. Now, with a major new round of funding, Bezos and co-founder Vik Bajaj have talked about it in slightly more detail.
The funding round is significant—$12 billion now, after an initial round of $6.2 billion last year, for a valuation of $41 billion. The funding comes from JPMorgan Chase, Goldman Sachs, BlackRock, and others, plus a sizable amount from Bezos' coffers. The startup currently employs 150 people.
Much of that funding will be put toward buying compute. "One of the reasons we’ve had to raise a significant amount of funding is because... what we’re doing is very compute-intensive and we need to create that data," Bezos told CNBC.
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