Physical Intelligence, a startup developing AI software that teaches robots to perform physical tasks like folding clothes, preparing coffee, and assembling boxes, is in talks to raise $1B in a new funding round that would more than double its valuation to over $11B, according to Bloomberg. The raise would build on more than $1B the company has already collected from investors including Amazon founder Jeff Bezos, and comes as rivals also attract major capital, with humanoid robotics startup Skild AI recently reaching a $14B+ valuation and Rivian spinout Mind Robotics hitting $2B after a $500M round. Big Tech is also moving into the space, with Apple, Meta, and Google DeepMind all entering physical robotics, as investors increasingly bet that AI systems tied to real-world environments represent the next major frontier of innovation.
