Jeff Bezos’ Project Prometheus Nears $38B Valuation: What is "Physical AI"?

Jeff Bezos is running a company again. Four years after stepping down as CEO of Amazon, he launched Project Prometheus in November 2025 with $6.2 billion. Now the AI lab is close to raising another $10 billion at a $38 billion valuation, the Financial Times reported Monday, April 20.

JPMorgan and BlackRock are backing the round, according to people FT spoke to. The funding has not closed yet. JPMorgan and BlackRock haven’t publicly commented on the news.

At Project Prometheus, Bezos serves as co-CEO alongside Vik Bajaj, a physicist and chemist who previously ran moonshot projects at Google X, including early work on Wing drones and Waymo self-driving cars.

Project Prometheus is a private startup, not a publicly traded company. It operates from San Francisco with offices in London and Zurich.

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What is Jeff Bezos doing with Project Prometheus

The lab builds AI that understands the physical world. Not chatbots or text generators. The technology learns from real-world data in manufacturing, aerospace, robotics, and drug discovery. It trains on how materials respond to stress, how machines fail and how production lines break down.