Jeff Bezos and former Verily co-founder Vik Bajaj just raised $12 billion for their physical AI startup, Prometheus, reaching a massive $41B valuation. The company is developing an "artificial general engineer" designed to automate the manufacturing of complex hardware like jet engines and drugs. Bezos also dismissed AI job theft fears, arguing the technology will actually cause a labor shortage.
OpenAI is reportedly preparing to confidentially file IPO paperwork with the SEC as early as May 22, teaming up with Goldman Sachs and Morgan Stanley. Valued at over $850 billion in private markets, the AI pioneer could go public as soon as Q4. If completed, it will be one of the biggest listings in tech history.
Tech and energy analysts just warned that the fragile U.S. power grid is severely choking AI expansion, while China already treats data center power as a solved problem. Backed by nationwide reserve margins between 80% and 100%, China uses AI hubs to soak up excess power, leaving the U.S. trapped in regulatory delays and a tight 15% margin.
Goldman Sachs just released a report warning that generative AI could replace the equivalent of 300 million full-time jobs. The technology could automate a quarter of work tasks in the US and Europe, hitting administrative and legal professions hardest. Why it matters: While the transition could squeeze white-collar wages in the near term, the bank argues a resulting productivity boom could lift global annual output by 7%.
