SoftBank and Nvidia in talks to fund Skild AI at $14 billion, nearly tripling its valuation

SoftBank and Nvidia reportedly in talks to fund SkildAI at $14B, nearly tripling its value | TechCrunch

SoftBank Group and Nvidia are in talks to lead an investment of over $1 billion at a $14 billion valuation in Skild AI, a software company building a foundational robotics model, Reuters reported. The nearly three-year-old startup was last valued at $4.7 billion in May when it raised $500 million in a round led by SoftBank along with participation of LG Technology Ventures, Samsung, Nvidia, and others, according to PitchBook data. Skild didn't immediately respond to a request for comment. SoftBank and Nvidia declined to comment. Unlike other heavily funded startups, Skild AI is not building proprietary hardware. Instead, it's developing a robot-agnostic foundation model that can be customized for various types of robots and use cases. The company unveiled its general-purpose robot model Skild Brain in July with videos showing robots picking up dishes and climbing up and down the stairs. The company has secured strategic partnerships with LG CNS and Hewlett Packard Enterprise to develop its ecosystem. Investor interest in AI robotics has been steadily growing. Physical Intelligence, another company developing "brains" for a broad range of robots, has reportedly recently raised $600 million at a $5.6 billion valuation led by Capital G. One investor who evaluated but declined to fund Physical Intelligence told TechCrunch that its model is still in early stages of development. In September, Figure, a company developing a humanoid robot, raised more than $1 billion at a massive $39 billion valuation. Meanwhile, 1X, another humanoid robot developer, was in talks to secure as much as $1 billion at a $10 billion valuation, The Information reported several months ago.

Report: Nvidia and SoftBank to invest $1B in robotic brains startup Skild AI - SiliconANGLE

Report: Nvidia and SoftBank to invest $1B in robotic brains startup Skild AI Nvidia Corp. and SoftBank Group Corp. are reportedly holding talks with the robotic artificial intelligence startup Skild AI over a $1 billion investment. The proposed round would bring the startup's valuation to more than $14 billion. Skild AI was last valued at $4.7 billion after raising $500 million in May from investors including SoftBank, Nvidia, LG Technology Ventures, Samsung Electronics Co. Ltd. and others. Founded in 2023 by a group of former Meta Platforms Inc. AI researchers, Skild AI is trying to overcome one of the major obstacles that's preventing the wider deployment of autonomous robots in factories, warehouses and other workplaces. The startup has created a robot-agnostic foundation model that can be customized to fit robots of almost any form-factor and serve as their "brains". According to Skild AI, its foundational model is designed to enable robots to perform a much broader range of tasks than they can do currently, including perceiving their local environment manipulating objects, locomotion and navigation. The model can be integrated with various types of robots, including humanoid bots designed to mirror the dexterity of real humans, quadruped robots that can travel across diverse terrains, and factory-style robotic arms. One of the advantages of Skild AI's model is that it can teach robots to do things that they weren't even designed to do. The company calls these skills "emergent capabilities", and although they're relatively simple actions, they could potentially make a real difference for robots working in physical environments. For instance, if a robot in a warehouse drops an object on the floor, Skild AI's model can get the robot to pick it up again. It's a simple skill to be sure, but it's also going to be pretty essential if companies want robots to one day replace humans. Skild AI says it can also teach robots to do things like rotate objects to get a better grip on them. Importantly, these skills show that robots can learn new tasks on the job and improve over time. The company showed off its most recent general-purpose model, called Skild Brain, in July when it posted a series of videos online that demonstrate robots doing different tasks, such as picking up dishes and walking up and down a flight of stairs. At the time, the startup also revealed it has established strategic partnerships with LG CNS Co. Ltd., which is LG's cloud computing and AI subsidiary, and Hewlett Packard Enterprise Co. Reuters, which first reported on the funding discussions, said SoftBank's interest in the startup stems from its Chief Executive Masayoshi Son, who has huge enthusiasm over the potential of robotics. In October, the company acquired the robotics business of the Swiss engineering group ABB for $5.4 billion, and Son himself was said to have been impressed by Skild AI's technology in a number of pilot projects. Interest in robotics has accelerated amid the AI boom, because the technology dramatically increases their potential to replace humans in different kinds of work environments. Robotics startups have attracted billions of dollars in funding, with one of the most recent raises coming from a startup called Physical Intelligence, which is backed by Amazon.com Inc. founder Jeff Bezos and closed on a $600 million funding round last month. It's also working on robot "brains", with an initial focus on robotic arms.

SoftBank and Nvidia eye $1B+ Skild AI investment

SoftBank Group Corp. and Nvidia Corp. have entered discussions to lead an investment exceeding $1 billion in Skild AI, a software company developing a foundational robotics model, according to Reuters. The proposed funding round would value Skild AI at $14 billion. This potential valuation nearly triples the nearly three-year-old startup's last valuation of $4.7 billion. In May, Skild AI raised $500 million in a round led by SoftBank, with participation from LG Technology Ventures, Samsung, Nvidia, and other investors, according to PitchBook data. Skild did not immediately respond to a request for comment. SoftBank and Nvidia declined to comment on the report. Skild AI focuses on creating a robot-agnostic foundation model rather than proprietary hardware. This model allows for customization across various robot types and use cases. In July, the company introduced its general-purpose robot model, Skild Brain. Videos demonstrated robots performing tasks such as picking up dishes and navigating stairs. Skild AI has also established strategic partnerships with LG CNS and Hewlett Packard Enterprise to expand its ecosystem. Investor interest in AI robotics has increased significantly. Physical Intelligence, a company also developing "brains" for diverse robots, recently reportedly secured $600 million at a $5.6 billion valuation in a round led by CapitalG. An investor who evaluated Physical Intelligence but chose not to fund it told TechCrunch that its model remains in early developmental stages. Additionally, Figure, a company building a humanoid robot, raised over $1 billion at a $39 billion valuation in September. Meanwhile, 1X, another developer of humanoid robots, was reportedly in talks to secure up to $1 billion at a $10 billion valuation, The Information reported several months prior.

SoftBank, Nvidia looking to invest in Skild AI at $14 billion valuation, sources say - The Economic Times

Japan's SoftBank Group and Nvidia are in talks to invest in Skild AI, in a more than $1 billion funding round that could value the maker of foundation models for robots at around $14 billion, according to sources and a term sheet seen by Reuters. If successful, the funding will be at nearly triple Skild's valuation from the $4.7 billion it commanded in a $500 million Series B round earlier this year that saw participation from Nvidia, LG's venture capital arm and Samsung, among others, according to PitchBook data. Founded in 2023 by former Meta AI researchers and backed by Amazon.com and Lightspeed Venture Partners, Skild is trying to overcome a key hurdle that has slowed the broader deployment of general-purpose machines in factories and homes by developing universal software designed to serve as the brain for robots. The company focuses on AI models for robots of all form factors rather than building any hardware of its own, and has said its technology uses vast data to teach robots perception and decision-making skills similar to those of humans. The talks underscore surging investor interest in humanoid robotics firms as advances in artificial intelligence make such robots increasingly capable of performing complex tasks. Still, experts caution that truly general-purpose robotic applications remain technically challenging and could still be years away from widespread adoption. Skild AI and SoftBank did not immediately respond to a request for comment, while Nvidia declined to comment. The talks remain fluid and some details could change, a source said, adding that the deal is expected to close before Christmas. SoftBank was impressed by Skild's technology in pilot projects, a person familiar with the matter said, requesting anonymity as the matter was private. Robotics is a key part of CEO Masayoshi Son's plan for SoftBank. The company scooped up the robotics business of Swiss engineering group ABB in a $5.4 billion deal in October. Commerce Secretary Howard Lutnick is pushing to accelerate robotics development through meetings with industry CEOs, as the Trump administration weighs an executive order on robotics next year, Politico reported last week. Skild AI unveiled its first general-purpose AI model in July, saying the system can adapt to a wide range of environments and tasks from warehouse logistics to household chores. The company raised $300 million at a $1.5 billion valuation as part of its Series A round last year, which saw investments from Jeff Bezos, SoftBank Group and Khosla Ventures among others.

Nvidia, SoftBank Target 'Robot Brain' Maker In Potential $14 Billion Deal - NVIDIA (NASDAQ:NVDA)

SoftBank Group Corp.(OTC:SFTBF) (OTC:SFTBY) and NVIDIA Corp (NASDAQ:NVDA) are in talks to back a major new funding round for a fast-growing robotics artificial intelligence company, highlighting rising investor interest in the sector. SoftBank and Nvidia are negotiating to invest in Skild AI as part of a funding round exceeding $1 billion, which could value the robotics AI company at roughly $14 billion, Reuters reported Monday, citing familiar sources and a term sheet. If the deal goes through, Skild's valuation would nearly triple from the $4.7 billion it secured earlier this year during a $500 million Series B round that included participation from Nvidia, LG's venture arm and Samsung, PitchBook data shows. Also Read: Nvidia Teams With Fanuc To Build Robots That Actually Listen Founded in 2023 by former Meta Platforms Inc (NASDAQ:META) Meta AI researchers and backed by Amazon.com Inc (NASDAQ:AMZN) and Lightspeed Venture Partners, Skild AI is working to remove a major barrier to widespread robot deployment by building universal software that acts as a central "brain" for robots. The company develops foundation AI models that help robots learn perception and decision-making skills using massive data sets. Robotics remains central to SoftBank CEO Masayoshi Son's long-term strategy, especially after the company acquired the robotics business of ABB for $5.4 billion in October. Last Wednesday, robotics stocks surged after reports said the Trump administration plans to issue an executive order to accelerate the robotics sector. Shares of iRobot Inc (NASDAQ:IRBT), Serve Robotics Inc (NASDAQ:SERV), Richtech Robotics Inc (NASDAQ:RR), and Tesla Inc (NASDAQ:TSLA) rose as Commerce Secretary Howard Lutnick met with industry CEOs and pushed to speed up industry growth. The U.S. Department of Commerce said robotics and advanced manufacturing sit at the center of efforts to bring critical production back to the U.S., while the U.S. Department of Transportation moves closer to launching a robotics working group. Lawmakers are also stepping up interest, with Republicans advancing new proposals after a national robotics commission was left out of the defense bill. The policy push reflects a broader strategy to compete in AI and other critical technologies, even as Trump and Elon Musk promoted sharply different approaches to managing the growing national debt. NVDA Price Action: Nvidia shares were up 1.11% at $184.43 at the time of publication on Monday, according to Benzinga Pro data. Read Next: Alibaba Launches Robotics Team to Turn AI Models Into Real-World Machines Photo: Shutterstock NVDANVIDIA Corp$185.321.60%OverviewAMZNAmazon.com Inc$227.11-1.05%IRBTiRobot Corp$3.38-8.40%METAMeta Platforms Inc$667.80-0.83%RRRichtech Robotics Inc$4.28-4.15%SERVServe Robotics Inc$13.09-2.50%SFTBFSoftBank Group Corp$105.54-%SFTBYSoftBank Group Corp$58.83-5.30%TSLATesla Inc$436.17-4.14%Market News and Data brought to you by Benzinga APIs

SoftBank and Nvidia Consider Joining Funding Round for Robotics Firm Skild AI | PYMNTS.com

By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions. The round, which has not been finalized and could change, could nearly triple Skild's valuation from the $4.7 billion it attained earlier this year to around $14 billion, Reuters reported Monday (Dec. 8), citing a term sheet. Skild raised $500 million in the Series B round in which it was valued at $4.7 billion, and it raised $300 million in a Series A round that valued it at $1.5 billion last year, according to the report. When announcing its Series A funding round in July 2024, Skild said its model was being designed as a "shared, general-purpose brain" for a variety of robots, scenarios and tasks. Unlike those designed for specific applications, it aims to enable the use of low-cost robots for a broad range of industries and applications. "With general purpose robots that can safely perform any automated task, in any environment, and with any type of embodiment, we can expand the capabilities of robots, democratize their cost, and support the severely understaffed labor market," Abhinav Gupta, president and co-founder of Skild AI, said at the time in a press release. In July, Skild introduced an AI model called "Skild Brain" and said the model can run on almost any robot, from humanoids to table-top arms, and enable them to think, function and respond more like humans. "We post-train this foundation model using targeted real-world data to deliver working solutions to our customers," the company said at the time in a blog post. It was reported in May that Nvidia unveiled more than 70 research papers showing how AI can perform in real-world settings that go far beyond text and images.