Physical Intelligence in talks to raise $1B at $20B valuation - Bloomberg

Investing.com -- Physical Intelligence is in early discussions to raise at least $1 billion in fresh capital, a financing that would nearly double the robotics software startup's valuation to roughly $20 billion, Bloomberg reported. Existing backers Lux Capital and Avenir are in talks to lead the round, according to people familiar with the matter, signaling continued venture appetite for foundational artificial intelligence models tailored to the physical world. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » The proposed transaction would mark a rapid step-up in valuation for the company, which secured an $11.5 billion valuation earlier this year.