Physical Intelligence is reportedly in talks to raise $1 billion, again

In Brief Posted: 4:59 PM PDT · March 27, 2026 Image Credits:Connie Loizos for TechCrunch Connie Loizos Physical Intelligence is reportedly in talks to raise $1 billion, again Physical Intelligence, the two-year-old San Francisco robotics startup, is in discussions to raise about $1 billion in new funding at a valuation exceeding $11 billion, according to Bloomberg. The deal would effectively double the company’s $5.6 billion valuation in just four months. Founders Fund is set to participate with Lightspeed Venture Partners also in talks to invest alongside returning backers Thrive Capital and Lux Capital, Bloomberg reported. The deal is still in early stages and details could change, noted the outlet. TechCrunch visited Physical Intelligence’s headquarters in January, where co-founder Sergey Levine described the company’s ambition simply: “Think of it like ChatGPT, but for robots.” At the time, the company had raised just over $1 billion and employed about 80 people working to build general-purpose AI models that can power robots to perform a wide variety of tasks, from folding laundry to peeling vegetables. Co-founder Lachy Groom told TechCrunch the company has no timeline for commercialization, an unusual posture that its investors don’t seem to mind. “There’s no limit to how much money we can really put to work,” Groom said. “There’s always more compute you can throw at the problem.” Topics Founders Fund, Lachy Groom, lux capital, Physical Intelligence, Robotics, TC, Thrive Capital April 30 San Francisco, CA StrictlyVC kicks off the year in SF. Get in the room for unfiltered fireside chats with industry leaders, insider VC insights, and high-value connections that actually move the needle. Tickets are limited. REGISTER NOW Newsletters See More Subscribe for the industry’s biggest tech news TechCrunch Daily News Every weekday and Sunday, you can get the best of TechCrunch’s coverage. TechCrunch Mobility TechCrunch Mobility is your destination for transportation news and insight.

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