Physical Intelligence Lines Up $1B Round at $20B, Nearly Doubling May Valuation

Physical Intelligence is in talks to raise at least $1B at a roughly $20B valuation, with existing backers Avenir and Lux Capital leading, Bloomberg reports. The round would nearly double the ~$11.5B valuation it took in May and comes weeks after the robotics-foundation-model shop opened pi-zero to outside developers; the company still has no disclosed revenue.