Chinese robotics company Unitree, whose stock surged 460% upon its IPO this week on Shanghai’s STAR Market, reached a valuation of $66 billion before dropping 19% the following day. Its 36-year-old CEO Wang Xingxing said the « ChatGPT moment » for humanoid robotics could take « 2 to 3 years at the fastest, and 5 or even 10 years at the slowest. » Robots will only reach this milestone when they can perform roughly 80% of tasks in an unfamiliar environment through voice or text commands alone. The CEO acknowledged that Unitree’s robots remain less efficient than human workers and must be retrained for each new task, despite a valuation that exceeds U.S.-based Figure AI ($39 billion).
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