San Francisco-based Physical Intelligence is in discussions to raise around $1 billion in fresh funding, a deal that could push its valuation to over $11 billion, nearly doubling it in just four months, according to a Bloomberg report. The deal has not yet closed, and details could still change.
The round is expected to see participation from major venture firms, including Founders Fund, linked to Peter Thiel, and Lightspeed Venture Partners. Existing backers Thrive Capital and Lux Capital are also in talks to return, Bloomberg reported, citing people familiar with the matter.
Physical Intelligence has raised over $1 billion across three rounds in under two years with returning backers including Thrive Capital, Lux Capital, and Jeff Bezos, as well as new investors NVIDIA (via its NVentures arm), Index Ventures, and T. Rowe Price.
Building AI for real-world robots
Founded in 2024 by Karol Hausman (CEO, formerly Google DeepMind), Sergey Levine (Chief Scientist, UC Berkeley professor), Chelsea Finn (Research Lead, Stanford professor), Brian Ichter (formerly Google Research), and Adnan Esmail, Physical Intelligence is building general-purpose AI models that can control robots across a wide range of tasks.
You can think about it as ChatGPT, but for robots.
Its flagship product is π0 (pi-zero), a general-purpose robot foundation model launched in October 2024 and open-sourced in February 2025. Built on a vision-language model architecture, π0 accepts natural-language commands and controls a range of robot types for dozens of tasks, including folding laundry, making coffee, and assembling boxes.
The raise comes as enterprise interest in physical AI accelerates: manufacturing, logistics, and healthcare sectors are actively piloting robotic systems, and investors are betting that general-purpose robot models will do for hardware what large language models did for software.
If the new round closes at $11B+, it would mark a near-doubling of the company’s valuation in under four months.
