Physical Intelligence, a San Francisco robotics startup, is reportedly in early-stage discussions to raise about $1 billion at a valuation exceeding $11 billion. The prospective round could involve Founders Fund, Lightspeed Venture Partners, and existing investors Thrive Capital and Lux Capital. The company, founded two years ago, focuses on building general-purpose AI models that enable robots to perform a wide range of tasks, from laundry folding to vegetable peeling. Co-founders Sergey Levine and Lachy Groom emphasize an unlimited compute approach and have no set commercialization timeline, a stance that appears acceptable to their backers. Read more →