Physical Intelligence is reportedly in talks to raise $1 billion, again

In Brief

Physical Intelligence, the two-year-old San Francisco robotics startup, is successful discussions to rise astir $1 cardinal successful caller backing astatine a valuation exceeding $11 billion, according to Bloomberg. The woody would efficaciously treble the company’s $5.6 cardinal valuation successful conscionable 4 months.

Founders Fund is acceptable to enactment with Lightspeed Venture Partners besides successful talks to put alongside returning backers Thrive Capital and Lux Capital, Bloomberg reported. The woody is inactive successful aboriginal stages and details could change, noted the outlet.

TechCrunch visited Physical Intelligence’s headquarters successful January, wherever co-founder Sergey Levine described the company’s ambition simply: “Think of it similar ChatGPT, but for robots.” At the time, the institution had raised conscionable implicit $1 cardinal and employed astir 80 radical moving to physique general-purpose AI models that tin powerfulness robots to execute a wide assortment of tasks, from folding laundry to peeling vegetables.

Co-founder Lachy Groom told TechCrunch the institution has nary timeline for commercialization, an antithetic posture that its investors don’t look to mind. “There’s nary bounds to however overmuch wealth we tin truly enactment to work,” Groom said. “There’s ever much compute you tin propulsion astatine the problem.”

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