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Physical Intelligence, which builds robot-control models that run on other companies' hardware, is negotiating a round of at least $1 billion at a near $20 billion, Bloomberg reported on October 27th, with existing backers Avenir and Lux Capital leading.
That nearly doubles the roughly $11.5 billion valuation set earlier this year, and people familiar told Bloomberg the company has no revenue yet.
It opened a beta API on October 13th that lets developers fine-tune its models and run them on their own robots.
The price puts a software layer for robots above Skild AI's $14 billion of January, on the bet that one model family can serve many robot makers. The Bloomberg original is paywalled; The Next Web summarizes it and says it has not verified the report independently.
Physical Intelligence is in talks to raise $1 billion at about $20 billion, with no revenue
Physical Intelligence, which builds robot-control models that run on other companies' hardware, is negotiating a round of at least $1 billion at a valuation near $20 billion, Bloomberg reported on October 27th, with existing backers Avenir and Lux Capital leading. That nearly doubles the roughly $11.5 billion valuation set earlier this year, and people familiar told Bloomberg the company has no revenue yet. It opened a beta API on October 13th that lets developers fine-tune its models and run them on their own robots.
The price puts a software layer for robots above Skild AI's $14 billion of January, on the bet that one model family can serve many robot makers. The Bloomberg original is paywalled; The Next Web summarizes it and says it has not verified the report independently. SourcesB
Sources
This story ran in the Morning Brief of October 31st 2026.