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Update

What changed

Physical Intelligence is discussing a funding round of at least $1 billion, according to Bloomberg, adding a reported size to the talks that was not in the original update.

The round could value the robotics AI company at roughly $20 billion, Bloomberg reports, nearly doubling its valuation. That remains a possible valuation, not a completed deal.

Bloomberg also reports that existing backers Avenir and Lux Capital are in talks to lead the round. The proposed lead investors are named, but the funding and its terms are not confirmed.

Sources and evidence

• Robotics Lab Physical Intelligence in Talks for a $20 Billion Valuation: Bloomberg reports that Physical Intelligence is discussing a funding round of at least $1 billion that could value it at roughly $20 billion, and that existing backers Avenir and Lux Capital are in talks to lead it.

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