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Figure Robotics raised $1B at a $39B post-money valuation

Figure AI is in talks to raise $1B–$2B at a $40B valuation ($39.5B per some reports), largely driven by SPVs from existing investors Align Ventures and Parkway Venture Capital. The company has a term sheet at that valuation. Hosts note skepticism given the investors involved and the 15x step-up from the prior $2.6B valuation.