Business Insider: FieldAI Term Sheet for $700 Million at a $10 Billion Valuation
Business Insider reports, citing a person familiar with the deal, that robotics startup FieldAI has signed a term sheet to raise $700 million at a $10 billion valuation, up from a $2 billion valuation after raising more than $400 million last year. The same person says the round may not have formally closed and that the lead investor is unclear. FieldAI did not respond to Business Insider’s request for comment. The $700 million should not be read as capital already raised.
Physical-AI valuations are still clearing double-digit billions on paper. FieldAI has not confirmed that this one has closed.
Business Insider (Rya Jetha, October 2, 2026) cites one person familiar with the deal who says robotics company FieldAI is raising $700 million at a $10 billion valuation, which would be five times a prior $2 billion valuation. That person says FieldAI has signed a term sheet, the deal may not have formally closed, and it is not clear which firm is leading. FieldAI did not respond to Business Insider’s request for comment. Until a close or a company disclosure, $700 million is a reported term sheet, not capital raised.
What the same source adds
Business Insider says FieldAI was previously valued at $2 billion after raising more than $400 million last year, with investors including Jeff Bezos’s family office, Laurene Powell Jobs’s Emerson Collective, and Khosla Ventures. That prior-round color is the article’s account of the last financing, not a new filing inspected here.
The same person familiar attributes commercial traction: at least $35 million in revenue and customer contracts added since June, for a total above $135 million. Business Insider says it previously reported FieldAI had passed $100 million across more than 30 customers. Both the increment and the total in this story hang on that one source. FieldAI’s own site was not used as confirmation.
The company, founded in 2023 and based in Irvine and the Bay Area, describes a “universal general-purpose brain” meant to run across humanoids, robot dogs, drones, and industrial rovers. CEO Ali Agha told Business Insider in June — not in this round — that growth in recent months had been very fast. Business Insider places the reported $10 billion figure next to Physical Intelligence at roughly $11 billion and Skild AI at more than $14 billion. Those are the wire’s comparison points, not a fresh cap-table check.
Limits
- One outlet, one anonymous source. No FieldAI press release, no named lead, no company comment.
- A signed term sheet is not a closed round. $700 million and $10 billion are not completed financing.
- The >$135 million revenue-and-contracts total, and the $35 million since June, are the same person’s figures.
- Prior $2 billion / >$400 million and the Bezos, Emerson, and Khosla names are Business Insider’s description of the last round.
- Competitor valuations are Business Insider’s framing, not independently re-pulled for this piece.