San Francisco-based robotics startup Physical Intelligence acknowledged that it had raised $400 million in fundraising, bringing its post-money valuation to $2.4 billion.

Jeff Bezos, the creator of Amazon, OpenAI, Thrive Capital, Lux Capital, and Bond Capital, was among the notable investors who led the round. Additionally, Khosla Ventures and Sequoia Capital took part, which was a big boost for the startup’s ambitious plan.

Physical Intelligence raised $70 million at a $400 million valuation in its previous seed round in March, but this latest fundraising round represents a significant step up. The extraordinary growth and rising price of the firm are indicative of the growing interest in creating powerful AI-powered robotics, especially in the field of general-purpose, task-oriented robots.

The goal of Physical Intelligence is to integrate “general-purpose AI into the physical world” by creating algorithms and models of AI that can drive adaptable robots.

Physical Intelligence has also been working on developing a “general-purpose” AI model that can allow robots to do a range of jobs for the last eight months. Artificial general Intelligence (AGI), or AI that can equal or surpass human cognitive abilities across a wide range of tasks is the company’s long-term objective, and this is a critical step toward that aim.

According to the company’s vision, consumers will be able to ask robots to do any task in the future, just like they can now communicate with ChatGPT and other large language models (LLMs). Physical Intelligence has already shown how its technology might allow robots to carry out routine jobs that normally involve human aptitude, decision-making, and adaptation, such as cleaning tables, constructing boxes, and doing laundry.

The announcement of funding came soon after OpenAI updated its ChatGPT platform with a search function to better compete with Google and Microsoft’s Bing, two of the biggest search engines. The action shows that OpenAI is still working to spread its influence beyond chatbots and into more general AI applications. The company was valued at an astounding $157 billion when OpenAI closed another round of fundraising last month.

The expansion of Physical Intelligence follows this pattern, establishing the firm as a possible major force in the robotics and artificial intelligence industries. The company’s emphasis on creating scalable AI solutions for robots is in line with the growing need for automation and AI-powered technology in a variety of sectors, including personal assistants and manufacturing.

Given the new funding and well-known support, Physical Intelligence may be poised to transform the way robots coexist with humans in daily life and move us closer to a time when they can carry out intricate jobs with ease. The company’s innovations may be essential in influencing the development of the next generation of intelligent machines as the area of AI-driven robotics develops.

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