The Sunnyvale, Calif.-based startup announced a strategic partnership with the Toronto-headquartered institutional investor that includes collaborating on training data, AI infrastructure and the use of its products. Brookfield Asset Management also invested in Figure’s Series C round alongside the likes of Nvidia, Intel and Macquarie Capital. The round values Figure at US$39 billion. (The Logic)
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The Sunnyvale, Calif.-based startup announced a strategic partnership with the Toronto-headquartered institutional investor that includes collaborating on training data, AI infrastructure and the use of its products. Brookfield Asset Management also invested in Figure’s Series C round alongside the likes of Nvidia, Intel and Macquarie Capital. The round values Figure at US$39 billion. (The Logic)
Talking point: Figure is one of a few startups developing multi-purpose humanoid robots, which it hopes customers will deploy in homes, warehouses, factories and stores. Investment giant Brookfield owns all those kinds of properties, and will let its new partner shoot video in them that it can use to train the AI systems that control its machines. Those algorithms and droids require a lot of processing power, and Brookfield is ramping up investment in data centres and other AI infrastructure. The new deal gives Figure a deep-pocketed ally as it takes on rivals like Tesla and Vancouver’s Sanctuary AI.
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