[Robotics Startup Physical Intelligence in Talks to Raise at Least $1 Billion, Valuation Could Reach $20 Billion] According to Bloomberg, robotics AI software developer Physical Intelligence is in talks to raise at least $1 billion, nearly doubling its valuation to approximately $20 billion. Existing investors Avenir and Lux Capital are in talks to lead the round. Physical Intelligence previously raised funds earlier this year at a valuation of $11.5 billion; sources familiar with the matter say the company currently has no revenue. Founded in 2024 by former Google DeepMind researchers and scholars from Stanford University and UC Berkeley, Physical Intelligence's investors include Alphabet's CapitalG, Jeff Bezos, and Thrive Capital.