Nvidia(US:NVDA) Tianfeng Securities·2025-05-20 09:43Investment Rating - Industry Rating: Outperform the Market (Maintain Rating) [1] Core Insights - The report emphasizes the rapid development of virtual simulation technology, which is crucial for advancing humanoid robotics, particularly through the application of NVIDIA's simulation technology in companies like Yushutech [11][12][14] - The report highlights the emergence of the ZhiYuan QiYuan large model, which integrates virtual simulation technology to enhance embodied intelligence [15][16] - NVIDIA's platforms, including MimicGen, Omniverse, and Isaac, are identified as key components that create a competitive advantage in the robotics industry by enabling efficient data generation and simulation [17][18] Summary by Sections Virtual Simulation Technology Development - Yushutech leads the humanoid robotics sector, with over 60% of the global quadruped robot shipments, utilizing the ASAP framework to align simulation with real physics [12][13] - The ASAP framework employs a two-stage training process that enhances agility in humanoid robots by overcoming dynamics mismatches [13][14] - The report notes that virtual simulation technology significantly contributes to the development and application of humanoid robots, expanding their operational capabilities [11] NVIDIA's Industry Advantage - NVIDIA's collaborative platforms (MimicGen, Omniverse, and Isaac) create a robust technological barrier in the robotics field [17][18] - MimicGen generates large-scale, high-quality datasets for training robots, enhancing their learning efficiency [19][20] - The Omniverse platform facilitates real-time collaboration and advanced simulation capabilities, improving the development speed of 3D environments [31][32] - The Isaac platform supports the simulation and deployment of autonomous mobile robots (AMR), significantly reducing development costs and time [36][37] Recommended Focus Companies - The report suggests focusing on companies such as Shiyun Circuit, Lens Technology, Luxshare Precision, and others involved in cloud AI and edge/terminal AI sectors [7][8]