Physical Intelligence, a two-year-old robotics startup based in San Francisco, is reportedly in talks to raise approximately $1 billion, valuing the company at over $11 billion. This deal would nearly double its previous valuation of $5.6 billion within just four months.

Bloomberg reports that Founders Fund and Lightspeed Venture Partners are expected to join returning investors Thrive Capital and Lux Capital in this round. However, TechCrunch notes the deal is still at an early stage, with details subject to change.

Co-founder Sergey Levine once described Physical Intelligence as akin to “ChatGPT, but for robots,” highlighting their ambition in developing general-purpose AI models that can perform a variety of tasks. At present, the company employs about 80 people and has raised over $1 billion.

Lachy Groom, another co-founder, has stated that there is no set timeline for commercialization, adding an unusual yet intriguing perspective on their funding approach: “There’s always more compute you can throw at the problem.”

This ambitious venture could signify a significant leap forward in robotics and AI technology, potentially reshaping industries as we know them. Only time will tell if Physical Intelligence can live up to its lofty ambitions.