FieldAI Signs Term Sheet for $700 Million at $10 Billion, 74 Times Its Reported Contracts

FieldAI has signed a term sheet to raise $700 million at a $10 billion valuation, according to a Business Insider report relayed on October 2 by SiliconANGLE and The Next Web. The round has not closed, no lead investor has been named, and neither report says whether $10 billion is a pre-money or post-money figure.

The Next Web said FieldAI did not respond to its request for comment. Everything below therefore rests on the Business Insider reporting as passed on by others, and not on a statement from the company.

The multiple behind $10 billion

The reports put FieldAI's "revenue and customer contracts" at more than $135 million, up at least $35 million since June. That is a bookings-style number, and it is not recognised revenue. Dividing $10 billion by $135 million gives roughly 74 times. That is a floor on the multiple, since recognised revenue cannot exceed the contracts it comes from.

The valuation is five times the roughly $2 billion at which the company was valued a little over a year ago, per The Next Web, which credits Business Insider for the earlier figure. Revenue and contracts would need to have grown by a comparable factor for the multiple to hold steady, and the reports give no prior-year base to test that.

1. Skild AI14 $ billion
2. Physical Intelligence (approx.)11 $ billion
3. FieldAI (term sheet)10 $ billion
4. NEURA (approx., June)7 $ billion
5. Genesis AI (approx., reported)3 $ billion

Source: The Next Web and TradingView/Benzinga reports of Oct. 2, 2026; Physical Intelligence and NEURA figures approximate as reported

Comparables, by shape

Skild AI is valued above $14 billion and reported $100 million in run-rate revenue, which is about 140 times on the same crude arithmetic. Physical Intelligence is valued near $11 billion. NEURA raised up to $1.4 billion in June at around $7 billion, and Genesis AI of Europe was reported to be raising $500 million at roughly $3 billion. On those numbers, FieldAI would sit just below Physical Intelligence and well above Genesis AI. On the model side of robotics, see our coverage of Runway's Praxis-1 world action model, and for how a high multiple is defended elsewhere see Cognition's valuation.

FieldAI builds no hardware. Its software is pitched as a "universal general-purpose brain" for humanoids, robot dogs, drones and industrial rovers, with customers in construction, energy and the public sector. The reports count more than 30 customers.

What the software does, and who is already on the cap table

SiliconANGLE described FieldAI's models as letting robots navigate without a pre-built map, GPS or an internet link, building a digital twin of the site from camera, lidar and radar data. In March the company partnered with Boston Dynamics to support its Spot robot on industrial inspection, as in the photograph above, which is a 2021 military image of Spot and shows no FieldAI deployment.

Existing backers include NVentures, Nvidia's venture arm, Intel Capital, Bezos Expeditions, Gates Frontier, Samsung, Khosla Ventures, Temasek, Prysm Capital and Canaan Partners, per TradingView's republication of a Benzinga report. Which of them will take their pro rata in the new round is not reported, and it is the detail that would say most about how the existing holders view a fivefold step-up.

The Next Web also reported that the European Machinery Regulation takes effect on January 20, 2027 and covers machinery with self-evolving behaviour, and that no model of FieldAI's type has yet been assessed under it.

What would confirm it

The round counts as closed only when the investors and the amount appear in a filing or a company statement. Until then, the defensible description is a signed term sheet. The next dated event on the calendar is the January 20, 2027 start of the European Machinery Regulation.