Robot AI Startup Physical Intelligence Raises $400 Million From Bezos, OpenAI
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Physical Intelligence, a startup developing foundational software for robots, has secured $400 million in early-stage funding, according to a report by Reuters. This investment round, which values the company at $2 billion, was led by Amazon's Jeff Bezos, OpenAI, Thrive Capital, and Lux Capital.
Physical Intelligence is focused on creating software that can operate on any robot, eliminating the need for task-specific software development. This approach aligns with the broader industry trend toward AI adoption, with tech giants like Microsoft, Google, Meta, Amazon, and Nvidia investing billions in AI development.
The venture capital firm Accel estimates that funding for AI and cloud companies in the US, Europe, and Israel will reach $79.2 billion by the end of 2024.
Physical Intelligence is not alone in the burgeoning robotic AI space. Other startups like Vicarious (acquired by Alphabet-owned Intrinsic in 2022), Universal Robots, Seegrid, and Covariant are also making strides in this field.
Elon Musk has predicted the emergence of at least 10 billion humanoid robots by 2040, priced between $20,000 and $25,000. Tesla recently unveiled the latest version of its Optimus humanoid robot.
Physical Intelligence recently published a paper showcasing its software, called π0 or pi-zero, which enables robots to perform tasks like folding laundry, bagging groceries, and removing toast from a toaster.