Applications: Robotics

AI acceleration (end-to-end + multimodal / robot-LLM progress) is speeding iteration and expanding what humanoids can reliably do, pulling demand into real work settings

Rapid cost/BOM decline improves payback economics, bringing factory deployments earlier and consumer use cases sooner

Capex + supply-chain buildout (more OEMs, deeper component availability, especially China) is enabling volume shipments and broader market penetration

Labor constraints + safety/fatality exposure + policy support are key demand drivers, especially for “dangerous/dirty/dullˮ work humans avoid and regulators prioritize

Near-term applications: structured manufacturing and special operations; longer-term upside: household/elderly care if general-purpose AI proves viable.

Source: Goldman Sachs, Morgan Stanley

Extracted from the PDF; charts and images may read imperfectly.