Physical Intelligence is in talks to raise $1 billion, valuing the company at $20 billion.

Robotics AI software developer Physical Intelligence is in talks to raise at least $1 billion, valuing the company at $20 billion, with existing investors Avenir and Lux Capital reportedly in talks to lead the round. Physical Intelligence raised funds earlier this year at a valuation of $11.5 billion and currently has no revenue. The company was founded in 2024 by former Google DeepMind researchers and academics from Stanford University and UC Berkeley. Investors include Alphabet's CapitalG, Jeff Bezos, and Thrive Capital. (Source: Bloomberg)