Robotics startup Physical Intelligence has reportedly raised $400 million in early-stage funding.
The funding round, which included participation from Amazon founder Jeff Bezos and OpenAI, values the company at $2 billion, Reuters reported Monday (Nov. 4), citing PitchBook data.
According to the report, Physical Intelligence aims to develop software that would work on any robot, doing away with the need to build software for individual tasks.
The company last week published a paper arguing how its pi-zero software allowed robots to perform tasks like folding laundry and bagging groceries.
As Reuters notes, the world’s tech giants — Microsoft, Google, Meta, Amazon and Nvidia — have made multi-billion-dollar investments in artificial intelligence (AI). Funding for AI and cloud firms in the U.S., Israel and Europe is projected to reach $79.2 billion by year’s end, the report adds, citing data from venture capital firm Accel.
Meanwhile, a number of companies are venturing into the robotic AI space, with Elon Musk forecasting that there will be at least 10 billion humanoid robots priced between $20,000 and $25,000 by 2040.
His company, Tesla, recently showcased the latest version of its Optimus humanoid robot at the Robotaxi unveiling event at Warner Brothers studio.
“And the Hollywood setting matched the Hollywood-style hyperbole of the event, which was light on details and launch timelines while heavy on promises that included self-driving cars, cybervans and cybercabs, as well as fully autonomous bipedal ‘Optimus’ robots,” PYMNTS wrote after the event.
Among the concrete details the company shared was a pledge to begin building the fully autonomous Cybercab by 2026 or 2027, and sell it for a price of less than $30,000, as well as the roll-out of a sister-vehicle robovan that can transport up to 20 people.
Meanwhile, PYMNTS wrote in August about a debate among experts on the future of work and commerce sparked by the potential for humanoid robots in stores and factories.
Although companies are exploring humanoid robots for tasks such as assembly and customer service, opinions vary greatly on their adoption rate and implications. Experts say there will be a gradual integration and not a rapid revolution, with key obstacles in technology development, workforce adaptation and customer acceptance still ahead.
“As Henry Ford said, ‘Why is it that I always get a whole person when all I want is a pair of hands?’ This sentiment applies here too,” Ding Zhao, associate professor of mechanical engineering at Carnegie Mellon University, told PYMNTS.
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