Two-year-old San Francisco robotics startup Physical Intelligence is in talks to raise nearly $1 billion in new funding, valuing it at more than $11 billion. According to Bloomberg. The deal will double the company’s $5.6 billion valuation in just four months.
Founders Fund, along with Lightspeed Venture Partners, is set to enter talks to invest alongside returning Thrive Capital and Lux Capital, Bloomberg reports. The deal is still in its early stages and details are subject to change.
TechCrunch He visited the headquarters of Physical Intelligence In January, co-founder Sergey Levine described the company’s ambition simply: “Think of it as ChatGPT, but for bots.” At the time, the company had raised just over $1 billion in funding and had about 80 people working on building general-purpose AI models that could power robots to perform tasks ranging from folding laundry to peeling vegetables.
Co-founder Lachy Groom told TechCrunch that the company has no timetable for commercialization, an unusual stance that investors seem to be ignoring. “There’s really no limit to how much money we can put to work,” Damat said. “There’s always more computation you can do to solve a problem.”
