AI Robotics Lab in Talks to Nab $1 Billion at $11 Billion Value

Physical Intelligence, a two-year-old robotics startup founded by AI academics and former Google DeepMind researchers, is discussing a new funding round of about $1 billion that would bring the company’s valuation to more than $11 billion including dollars raised, according to people familiar with the matter.

The deal would effectively double the startup’s valuation in four months, as it works to build artificial intelligence models that can power robots capable of performing a variety of tasks. The company’s last funding round, a $600 million haul, valued Physical Intelligence at $5.6 billion.

Peter Thiel’s Founders Fund is set to participate in the ...