Jeff Bezos is reportedly aiming to raise $100 billion for a new investment fund, which will be used to acquire companies across major industrial sectors. The ultimate goal is to modernize and automate these businesses using artificial intelligence, according to sources cited by the Wall Street Journal.

This initiative is connected to Bezos’ AI startup, Project Prometheus. Bezos, whose involvement with the company was first reported in November, is serving as co-founder and co-CEO alongside former Google executive Vik Bajaj.

Prometheus launched with $6.2 billion in funding and is focused on developing advanced AI models to enhance manufacturing and engineering processes in sectors like aerospace and automotive. The new manufacturing fund is intended to support this mission by acquiring companies that will ultimately utilize Prometheus' AI technology.

According to the report, Bezos recently traveled to Singapore and the Middle East as part of his efforts to secure funding. The plan involves targeting acquisitions in specific areas, including aerospace, chipmaking, and defense.