Nvidia Backs $2.4 Billion Startup Building AI for Manufacturing

PhysicsX, a British startup that develops artificial intelligence models for manufacturing components like jet engines and semiconductors, has raised $300 million at a valuation of roughly $2.4 billion, competing in a crowded field that includes Amazon.com Inc founder Jeff Bezos.

Singapore’s Temasek led the Series C financing into PhysicsX, the London-based company said on Monday. Intrepid Growth Partners and M&G Catalyst joined as new investors alongside earlier backers, including chip firms Nvidia Corp. and Applied Materials Inc. The company was valued at almost $1 billion at its last funding round.

A growing number of companies are trying to apply the latest advances in AI to heavy-duty industry, ...