Physical Intelligence is in early talks to raise at least $1 billion in fresh capital, which would nearly double the robotics software startup's valuation to roughly $20 billion, Bloomberg reported. Existing backers Lux Capital and Avenir are reportedly in talks to lead the round, even though the pre-revenue company has no current revenue, following an $11.5 billion valuation earlier this year. Founded in 2024 by former Google DeepMind researchers, the company is building a hardware-agnostic AI platform for diverse robots and earlier this month released beta access to its latest models for outside developers. It faces competition from OpenAI, Tesla and specialist rival Skild AI, which was valued at $14 billion in January and recently crossed $100 million in annual recurring revenue.
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AMZN
• NeutralAmazon
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.6T |
| Close on 10/27/2026 | 253.10 |
| Change that session | +1.61% |
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