Figure AI Inc., a startup developing humanoid robots, is in talks with investors to raise $1.5 billion at a valuation of $39.5 billion, according to people familiar with the matter — a move that signals the tech industry’s intensifying interest in robots that look and move like humans.

Figure AI Inc., a startup focused on developing humanoid robots, is in advanced discussions with investors to secure $1.5 billion in funding, according to Bloomberg News, citing people familiar with the matter.