Physical Intelligence, now valued at about $2 billion, aims to create AI models that can power robots.

The artificial intelligence start-up Physical Intelligence, which aims to build general-purpose AI models and algorithms for real-world robots, is set to announce a new $400 million funding round today with backing from Jeff Bezos and other big-name investors. The financing—which has not yet been disclosed on Physical Intelligence’s website but was reported by The New York Times and will reportedly go live today—was led by Bezos, the founder and executive chairman of Amazon, as well as two venture capital firms, Thrive Capital and Lux Capital. The Times reports that the AI giant OpenAI as well as the investment firms Redpoint Ventures and Bond also participated. A spokesperson for Thrive Capital confirmed the details of the Times story to Inc. Physical Intelligence, which has not yet posted about the round on its blog, directed Inc. to that same spokesperson. “The fund-raising valued the company at about $2 billion, not including the new investments,” Times reporter Michael J. de la Merced wrote. “That’s significantly more than the $70 million that the start-up, which was founded this year, had raised in seed financing.” Physical Intelligence, also known as Pi and sometimes stylized as π, currently lists five investors on its website: three of the participants in this latest round (Lux Capital, Thrive Capital and OpenAI) and two not named in the Times story (Khosla Ventures and Sequoia Capital). Data on Crunchbase indicates that those five firms, along with Outset Capital and Greenoaks, constituted Physical Intelligence’s March 2024 seed round. Thrive confirmed to Inc. that they participated in the seed round. Physical Intelligence aims to bring general-use artificial intelligence out into the physical world, according to its website, which features videos of robots folding laundry and assembling cardboard boxes. “What we’re doing is not just a brain for any particular robot,” co-founder and chief executive Karol Hausman told the Times. “It’s a single generalist brain that can control any robot.” Lux Capital, Redpoint Ventures and Bond did not immediately respond to a request for comment. Bezos’ family investment office Bezos Expeditions could not be reached, but it does list Physical Intelligence among its portfolio companies. An OpenAI spokesperson confirmed their participation in the round. Last month, The Information reported that Physical Intelligence was pursuing a $300 million round at a valuation of about $2 billion.