According to CoinMeta, the robotics startup Physical Intelligence (π), founded by the team AI, is in talks for a new round of financing of at least $1 billion, with a target valuation of around $20 billion. Existing investors Avenir and Lux Capital are expected to lead the round. The company has not yet generated any revenue, but its valuation has risen from $5.6 billion in November last year to $11.5 billion. If this round of financing is successful, the valuation is expected to further increase to around $20 billion. Physical Intelligence was established in 2024, with a founding team coming from Google DeepMind, Stanford University, and the University of California, Berkeley. Investors include Jeff Bezos, CapitalG, and Thrive Capital. The company is developing a universal “brain” AI that enables robots to perform tasks such as folding clothes, organizing dishes, and picking strawberries. On October 13, the company launched a beta version of PI API, allowing external developers to upload data on robot operations, with the platform responsible for fine-tuning the models.