Figure AI, an American humanoid robotics startup, is reportedly in talks to raise $1.5 billion, which could push its valuation to $39.5 billion, according to Bloomberg.
The funding round is expected to be led by Align Ventures and Parkway Venture Capital, though the terms aren’t finalized yet and could still change.
This would be a massive leap from the company’s $2.6 billion valuation in a deal last year. Figure AI has already drawn big-name investors like Microsoft, OpenAI, Nvidia, and Jeff Bezos.
CEO Brett Adcock recently posted on LinkedIn about the company’s plan to produce 100,000 robots over the next four years. Investor interest has surged, thanks to improvements in Figure’s AI-powered cognitive abilities, which are speeding up the timeline for humanoid robots to hit the consumer market.
Meanwhile, Tesla is making its own push into humanoid robotics with its Optimus robot. Meta is also getting involved, reportedly working with Figure AI and Unitree Robotics.
Morgan Stanley analysts, led by Adam Jonas, point out that humanoid robots are gaining attention because they can handle various tasks and learn through human interaction and simulation. While Figure AI’s growth could put pressure on Tesla, analysts don’t see this as a winner-takes-all situation. Instead, they compare it to industries like automotive and machinery, where multiple players can thrive.
They also note that Figure AI’s ability to raise such a large sum could boost confidence in the entire humanoid robotics sector, which could be good news for Tesla’s stock as investor interest continues to build.
