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Investing.com-- Robotics startup Field AI is in discussions to raise several hundred million dollars at a $2 billion valuation, a fourfold increase from last summer when NVIDIA Corp (NASDAQ:NVDA) and other investors valued it at $500 million, The Information reported on Tuesday, citing a person familiar with the talks.
The California-based company develops artificial intelligence models that help robots perform complex tasks in industries such as construction and oil and gas. Unlike some emerging robotics firms, Field AI has already begun generating revenue in the millions by selling access to its specialized AI models, the report said.
Field AI’s software operates via an external hardware unit that can be attached to robots from companies including Boston Dynamics and Unitree Robotics.
The startup is building a multimodal large model that integrates text, images, voice, and lidar sensor data to improve robotic autonomy, according to The Information.
While details on potential investors remain unclear, the report noted growing investor interest in robotics startups. Competitor Skild AI has reportedly discussed raising funds at a $4 billion valuation, while Physical Intelligence secured financing at around $2 billion in November.
Field AI previously raised over $100 million from investors including Khosla Ventures and Temasek, The Information’s report stated.