How to Buy Figure AI Stock Before the IPO
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Explore ways to own Figure AI stock as the company approaches its IPO date. Invest in pre-IPO startups like Databricks, OpenAI, and Canva, via the Fundrise Innovation Fund.
Table of Contents
Recent Figure AI News
03/02/2024: The race to build AI-powered humanoids is heating up
02/29/2024: OpenAI wants to make humanoid robots smarter
02/29/2024: Humanoid robot startup Figure AI valued at $2.6 billion
02/23/2024: Bezos, Nvidia, OpenAI, Microsoft to Fund Figure AI
Older news…
About Figure AI
Figure AI is a robotics company that combines artificial intelligence LLM models with humanoid machines. The company’s robot prototype, Figure 01, is designed to address labor shortages and reduce the number of workers doing dangerous jobs.
Its mission is to expand human capabilities through advanced AI.
Founder Brett Adcock published a “master plan” on the Figure AI website, describing his vision for the company’s future. The company intends to develop general-purpose humanoids that positively impact humanity. Adcock is an accomplished entrepreneur, having sold an HR software company and taking his electric air taxi company, Archer Aviation, public through a SPAC.
By creating general-purpose robots, the company believes it can replace workers in unsafe or undesirable jobs with robotic workers. Miso Robotics has a similar vision, but its robots are specialized for specific tasks, such as maintaining a frying station at a fast-food restaurant.
In contrast, the humanized robots by Figure AI could theoretically accomplish these tasks and more, including anything a human can do. A long-standing question will be whether they can effectively replace workers at a reasonable cost.
The company has partnered with OpenAI to power communication and reasoning.
Figure AI is publishing videos to YouTube sharing its progress. Here’s a recent video demonstrating intelligent speech-to-speech reasoning and physical activity.
Ownership
Figure AI is a venture-backed private company. Shareowners include the Founder Brett Adcock, employees, and some of the largest companies and investors in the world.
The latest funding round raised $675 million. The deal was completed in February 2024. The company has raised about $845 million in total private funding.
Prominent venture capital investors include OpenAI, Microsoft, NVIDIA, Bezos Expeditions, Intel Capital, Parkway Venture Capital, Tamarack Global, FJ Labs, and Till Reuter (KUKA Robotics).
Funding Rounds
Round | Date | Est. Valuation | Raise Amount | Price |
---|---|---|---|---|
Series B | 02/26/24 | $2.68B | $675.00M | $13.22 |
Series A | 03/29/23 | 0 | $70.00M | NA |
Source: Caplight |
Valuation
The Figure AI valuation is $2.6 billion based on the $675 million funding round completed in February 2024.
Pre-IPO transactions are rare at this early stage. Now that its valuation is well above unicorn status, we may see some early backers and employees liquidate shares.
Monitor the pre-IPO marketplace Hiive for private share availability.
IPO Potential
The Figure AI IPO date is currently unknown and unlikely in the next few years.
CEO Brett Adcock told Fast Company his business plan is to start generating revenue as quickly as possible. That will require a functioning robot that is affordable and capable of performing specific tasks so buyers can justify the costs.
The company will likely operate at a loss for several years and will need to raise more private capital.
However, if the race for AI dominance pushes unprofitable private companies into the public markets with fanfare, we could see a company like Figure AI go public to raise additional funds.
If the company decides to pursue a public listing, watch for reporting about exploring a possible IPO with investment banks or a confidential S-1 filing with the SEC.
Bookmark this page for the latest developments.
How to Invest in Figure AI Stock
Retail investors can invest in Figure AI today through a popular venture capital fund outlined below. It is available to non-accredited investors.
Accredited investors may find direct investment opportunities as more shares become available on pre-IPO investing platforms.
1. Access the stock via the ARK Venture Fund
Cathie Wood’s ARK Venture Fund purchased a $2.5 million stake in Figure AI during the February 2024 Series B round.
All U.S.-based investors 18+ can invest in the fund. The minimum investment is $500, and non-accredited investors are welcome.
Interested investors must open an account with SoFi Invest and place an order to buy the ARK Venture Fund.
By owning the ARK Venture Fund, retail investors can gain equity exposure to this exciting AI robotics company.
A similar venture fund, the Fundrise Innovation Fund, also gives access to pre-IPO companies. Retail investors can own Databricks, Canva, Anthropic, Anduril, and other companies through the Fund. Figure AI is not part of the portfolio at this time.
Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
2. Monitor pre-IPO marketplaces for Share availability
Investors can monitor pre-IPO investing platforms such as Hiive, EquityZen, Forge Global, and Linqto for share availability.
These platforms allow shareholders to liquidate shares when there is limited liquidity elsewhere. This allows accredited retail investors to invest, often at lowered valuations.
Most investment opportunities start above a $10,000 minimum, and in many cases, the minimum is much higher.
Investors can sign up for free access to pre-IPO data and alerts and monitor startup share availability.
Check out our list of top pre-IPO investing platforms for current share availability across platforms.
3. Participate in the Figure AI IPO through a broker
Multiple prominent venture capital firms have invested in Figure AI and, at some point, will likely seek to liquidate ownership in the coming years. That could occur through an acquisition or public offering.
Brett Adcock used a SPAC to take his last company public. Though it seems his mind was elsewhere as he assembling capital to start Figure AI. His SPAC timing was excellent as the SPAC frenzy peaked at the end of 2021.
AI is an extremely hot industry at the moment. Investors may line up to invest in the next group of AI-related startups. AI chipmaker Cerebras has indicated it could be among the prominent AI companies to AI in the next 12 months.
IPO investors may find opportunities to invest during the IPO when it arrives — acquiring shares at the IPO price the day before the stock begins trading on the open market.
Once reserved for Wall Street’s wealthiest customers, IPO access has become more attainable to retail investors in the past few years.
The following online brokers give customers free access to IPOs, even with low account balances:
Access to specific high-demand IPOs may be limited by which brokerage accounts you have and what broker gets exclusive access.
TradeStation has a longer track record of accessing more than 360 IPOs and secondary offerings via its partnership with ClickIPO.
But Robinhood and SoFi Invest have the advantage of Silicon Valley networks and a history of getting more allocations in recent years.
Read the S-1 filings to find mentions of these online brokers to find opportunities.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
Frequently Asked Questions (FAQs)
Is Figure AI Stock Publicly Traded?
No. Figure AI is not publicly traded. It is private.
What is the Figure AI Stock Symbol?
There is no Figure AI stock symbol yet because it is a private company.
Here are a few Figure AI ticker suggestions that appear to be available in the U.S.:
- FAI
- FGRE
What is the Figure AI Stock Price?
A public Figure AI stock price does not exist because the company is private.
The February 2024 funding Series B funding round completed at $13.22 per share.
Where is the Figure AI S-1 Filing?
Figure AI has yet to release an S-1 filing to the public. There is no evidence of a confidential S-1 filing yet.
The Figure AI IPO is not yet in the pipeline of likely IPOs.
News of a confidential or public S-1 filing would kick off the IPO process, suggesting the IPO could occur during the following two to six months.
When the company releases the S-1 filing to investors, we’ll link to and embed the document on this web page.
In the meantime, you can check out the most recent S-1 filings in our S-1 filings feed.
Figure AI News Archive
05/24/2023: Figure AI announces $70M Series A
03/02/2023: Figure emerges from stealth
09/22/2022: Archer’s co-founder is bootstrapping an all-purpose humanoid robot
Conclusion
Investors become interested in buying companies riding extraordinary macroeconomic trends like robotics and AI. If Figure AI continues to make progress and grow, it could be an extremely influential company.
The robotics space is crowded, with many companies building role-specific machines. However, Figure AI is building a general use robotic with reasoning and intelligence built it. If successful, other companies may follow. Deep-pocketed investor attention could provide the protective moat needed to execute such an ambitious plan.
Retail investors can invest in this extraordinary company today, which is a rare privledge. Investors interested in owning equity exposure in the company should look to the ARK Venture Fund. You’ll gain access to more than two dozen innovative startups and tech leaders.
Pre-IPO investing platforms have opened more opportunities for retail investors. But venture capital investing is still mostly reserved for accredited investors.
Investors will likely find it challenging to acquire direct ownership shares until there are more shares in circulation and more liquidity.
But if you are inclined to pursue IPO shares or early equity in Figure AI, maintain reasonable expectations. The IPO or any potential exit is likely many years away.
Good luck if you wish to buy Figure AI stock before the Figure AI IPO. Invest in pre-IPO and IPO companies at your own risk.
* Disclosure: The web page contains affiliate links from our partners. If a reader uses links in this article to open an account or buy a service, Access IPOs will be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long HOOD, the Fundrise Innovation Fund, and the ARK Venture Fund.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.