Eric Wu’s newest company, out of stealth since May, is going after construction’s labor crunch

Eric Wu built and ran Opendoor, one of the more ambitious real estate startups of the last decade, before stepping away in 2022 after fast-rising interest rates abruptly slowed down home sales. He spent a year resetting — he’d been running the company for eight years at that point — and could have easily jumped into investing when he felt done with his hiatus. But like a lot of founders, he’s so convinced that AI will be the defining tech platform of his lifetime that he more recently decided instead to dive back into company building. As he told me during a call earlier this summer, “I knew if I looked back in 10 years and didn’t do something related to it, I’d probably regret that.” The opportunity Wu is chasing — building AI copilots for construction workers and other field laborers, something he describes as a hands-free expert coach for the people physically building things — isn’t exactly a secret. The construction industry is short workers by a wide margin. The trade group Associated Builders and Contractors has said roughly 349,000 additional workers would be needed this year just to keep pace with construction demand, a challenge that looks to worsen with workers getting older, workers getting shipped out of the United States owing to more aggressive U. S. immigration enforcement, and also the growing number of major projects being planned, specifically data centers. We’ve all heard now — from the entire AI industry — about the giant server farms that the AI boom demands. Those projects have grown enormous, and staffing demand has grown with them. Where a large data center campus once needed something like 750 workers at its peak, the biggest projects now require far more. Meta’s Hyperion campus in Richland Parish, Louisiana, for example, will reportedly require roughly 5,000 construction workers, and OpenAI’s Stargate site in Abilene, Texas has reported involved 6,400 workers. Kelly, the global staffing company, has said that 90% of data center operators now name staffing shortages as a critical constraint on their ability to build or expand. Wu’s new company, called NavigateAI, meant to address that people layer, officially launched in late May with $25 million in seed funding at a $225 million post-money valuation led , with participation from Khosla Ventures, Fifth Wall, real estate giant Lennar, Tishman Speyer, electrical contractor Helix Electric, and a roster of angels including Tony Xu of DoorDash, Apoorva Mehta of Instacart, and Coinbase CEO Brian Armstrong.