Nuig AI artificial intelligence company nuig makes $50M bid for Amazon founder

Nuig Artificial Intelligence, Inc. (NASDAQ:NUAIG) is looking to raise a $50 million round of funding to expand its artificial intelligence capabilities.

The Nuig board will meet on Tuesday to discuss the company’s next moves.

Nuig CEO Tom Zeller, co-founder of the company, has also been appointed chief executive officer of the investment.

“The Nuigs team has an impressive track record of creating new and disruptive AI platforms, with the Nuig AIs powering the Amazon Machine Learning platform and the Nuigs cloud-based cloud computing system,” said Alex Miller, an analyst at J.P. Morgan in a statement.

“As we look ahead to the Nuigi-Amazon acquisition, we expect a broad-based, long-term partnership that enables both companies to continue to advance their respective AI capabilities.

Nuigs AI capabilities will allow Amazon to benefit from a broad range of data, and we believe Nuig’s AIs will be able to deliver the best value for the companies in the process.”

Zeller, who joined Nuig as co-CEO in January 2016, previously announced the company will invest $200 million into a new AI startup, with a focus on AI-driven products, such as artificial intelligence-powered facial recognition.

Nuig, which is backed by SoftBank, has built a solid track record as an AI company.

In addition to its AI-powered products, Nuig recently raised $2 billion in Series A funding.