Physical Intelligence Is Reportedly In Talks To Raise $1 Billion, Again

In Brief

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

Founders Fund is group to participate pinch Lightspeed Venture Partners besides successful talks to put alongside returning backers Thrive Capital and Lux Capital, Bloomberg reported. The woody is still successful early stages and specifications could change, noted nan outlet.

TechCrunch visited Physical Intelligence’s headquarters successful January, wherever co-founder Sergey Levine described nan company’s ambition simply: “Think of it for illustration ChatGPT, but for robots.” At nan time, nan institution had raised conscionable complete $1 cardinal and employed astir 80 group moving to build 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 nan institution has nary timeline for commercialization, an different posture that its investors don’t look to mind. “There’s nary limit to really overmuch money we tin really put to work,” Groom said. “There’s ever much compute you tin propulsion astatine nan problem.”

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