Physical Intelligence, a US startup developing AI software for robots, is in talks to raise at least US$1 billion at about a US$20 billion valuation.

Founded in 2024 by former Google DeepMind researchers and academics from Stanford University and the University of California, Berkeley, the company has no revenue yet. Existing investors Avenir and Lux Capital are discussing leading the round.

Physical Intelligence recently opened a beta application programming interface (API) to external developers. The company said its general robot model uses vision and language inputs to generate actions.

Competitors in robotics include OpenAI, Tesla, and Skild AI.

An earlier report described US$11 billion valuation talks. Physical Intelligence raised funding at a US$11.5 billion valuation earlier this year.

The proposed valuation would also exceed Skild AI’s US$14 billion valuation in January. Skild AI previously raised US$300 million in series A.

🔗 Source: Bloomberg