Robotics Startup Physical Intelligence Valued at $5.6 Billion

Physical Intelligence, a startup developing artificial intelligence software to help robots learn a wide range of tasks, has raised $600 million in a new round of funding that values the company at $5.6 billion, according to people with knowledge of the matter.

Alphabet Inc.’s independent growth fund CapitalG led the round, with participation from existing investors Lux Capital, Thrive Capital and Amazon.com Inc. founder Jeff Bezos, said the people, who asked not to be identified discussing private information. Index Ventures and T. Rowe Price were among the new investors who participated, the people said. The startup’s valuation includes the money raised.

Physical Intelligence, Thrive, T. Rowe ...