Robotics AI Startup Physical Intelligence Seeks $20B Valuation in Major Funding Round

Physical Intelligence, a San Francisco-based startup building foundation models for robotics, is in talks to raise at least $1 billion at a valuation near $20 billion, nearly doubling its $11 billion valuation from earlier this year. Existing investors Avenir and Lux Capital are leading the negotiations, according to reports on October 27, 2026.