Core Viewpoint - The article highlights the innovative reporting model at CES 2026, showcasing a collaboration between 36Kr and Tongchuang Weiye, which integrates deep reporting, on-site perspectives, and drone technology to enhance coverage of tech events and companies [3][8]. Group 1: Reporting Innovation - 36Kr maintains a timely, in-depth, and cutting-edge reporting style, capturing the latest trends in the tech industry and identifying potential startups with technological capabilities [3][5]. - The collaboration with Tongchuang Weiye and the "Shanpai" column allows for a unique on-site perspective, bringing real-time insights from Las Vegas to domestic audiences [7][8]. - The use of drones for live reporting represents a breakthrough in tech media, providing a fresh and immersive experience for viewers [8][12]. Group 2: Chinese Companies at CES - Chinese startups demonstrated significant advantages in the smart home cleaning sector, leveraging strong R&D and product capabilities to gain market presence [5]. - Approximately 20 Chinese humanoid robot companies participated in CES, surpassing the total from the US, Japan, South Korea, Germany, and the UK combined, indicating China's leadership in the Physical AI era [5][12]. - 36Kr's reporting serves as a window for Chinese brands to reach international markets while also guiding domestic users in understanding global tech trends [5][8]. Group 3: Drone Technology and New Media - The event featured a spectacular drone show by DAMODA, showcasing a V4 system that represents a global first in automated drone charging and performance [10][14]. - The drone displays utilized cultural symbols to create a visually impactful experience, indicating a shift towards a new form of media that transcends language and cultural barriers [12][14]. - This new aerial media format is adaptable to current communication environments, allowing for simultaneous online content generation and extensive social media sharing [12][14]. Group 4: Future Prospects - The conclusion of CES 2026 marks the beginning of a new wave of technological competition and innovation, with expectations for continued collaboration between 36Kr and Tongchuang Weiye in future events [14]. - The partnership aims to deepen content innovation and support entrepreneurial ventures, positioning itself at the forefront of technological advancements [14].

Core Insights - Nvidia and Tesla are positioned to deliver significant returns for shareholders due to their involvement in the AI revolution [1][2] - Experts predict that the combined market value of Nvidia and Tesla could reach at least $20 trillion in the future [2] Nvidia - Nvidia's GPUs are the industry standard for AI infrastructure, accounting for approximately 85% of AI accelerator sales in 2025, with expectations of maintaining this dominance [4][5] - The company employs a "full-stack" approach to accelerated computing, integrating hardware and software to provide the lowest total cost of ownership for customers [4][5] - Nvidia's data center GPU sales are projected to grow at an annual rate of 36% through 2033, with adjusted earnings expected to increase at 38% annually over the next three years [6][7] - Analyst Beth Kindig predicts Nvidia could reach a market value of $20 trillion by 2030, implying a potential upside of about 340% from its current market value of $4.5 trillion [8] Tesla - Tesla's current market value is $1.5 trillion, with CEO Elon Musk suggesting it could reach $25 trillion, indicating a potential upside of approximately 1,560% [8][10] - Despite losing its status as the global leader in electric vehicle sales, Tesla's investment thesis now focuses on physical AI, including autonomous vehicles and humanoid robots [10][12] - Tesla's full self-driving (FSD) software is set to expand into new markets, with plans for monetization through subscriptions and autonomous ride-sharing services [11] - The robotaxi market is expected to grow at 99% annually through 2033, while humanoid robot sales are projected to increase at 54% annually through 2035 [13] - Musk claims Tesla's expertise in physical AI is unmatched, but the stock's valuation remains challenging due to struggles in the core electric car business and execution risks in new AI ventures [14][15]

Group 1 - Mobileye Global Inc. reported a 9% year-on-year decline in quarterly revenue to $446 million, exceeding analyst consensus estimates of $432.329 million [1] - EyeQ volumes decreased by 11% in the quarter due to demand-supply imbalances, resulting in tighter inventory levels at Tier 1 customers [1] - The adjusted EPS of 6 cents was in line with analyst consensus estimates [1] Group 2 - CEO Prof. Amnon Shashua stated the company's goal is to lead in Physical AI for autonomous vehicles and humanoid robotics, with a focus on cost-efficient, single-ECU hands-free systems and self-driving technology for commercial robotaxi services [2] - Mobileye anticipates fiscal 2026 revenue between $1.90 billion and $1.98 billion, compared to the analyst consensus estimate of $1.881 billion [2] Group 3 - Following the earnings announcement, Mobileye shares fell by 5.4% to $9.94 [3] - Analysts adjusted their price targets for Mobileye, with Needham lowering it from $18 to $16 while maintaining a Buy rating, Canaccord Genuity lowering it from $30 to $24 with a Buy rating, and RBC Capital lowering it from $14 to $13 while maintaining a Sector Perform rating [4]

Summary of the Conference Call on Robotics and Physical AI Industry Overview - The discussion centers around the **industrial robotics industry**, highlighting a significant shift in adoption since 2020, referred to as a **Robot Renaissance** [1][16]. - The industry is experiencing a new phase driven by advancements in **AI**, which is expected to elevate the **CAGR** (Compound Annual Growth Rate) to the low-teens and significantly increase the long-term **TAM** (Total Addressable Market) [1][2]. Key Points and Arguments Evolution of Robotics - The original Robot Renaissance involved a transition from **pre-programmed, fixed paths** to **real-time flexible path planning**, enabling applications like machine tending, palletizing, and smart welding [2][6]. - The next phase focuses on **complex task planning**, allowing for high dexterity tasks and deeper collaborations between machines and humans [2][6]. - Without these advancements, growth in the industrial robot sector would likely slow to single digits; however, the forecasted ten-year CAGR is expected to accelerate to **12%** [2][11]. Role of Physical AI - **Physical AI** is described as a multi-layer AI ecosystem that enhances robot capabilities without disrupting existing robot manufacturers [3][4]. - The ecosystem includes: 1. Robots and their **digital twins** 2. **Task/path planning software** powered by multimodal AI 3. **Sensors** for collecting physical data 4. A **digital representation** of the environment for simulating interactions [3][30]. Market Dynamics - Demand for **sensors**, both vision and non-vision, is expected to rise significantly, supporting advanced robotic task planning and the development of "world models" [4][38]. - Leading companies like **FANUC** are expanding into the "brain" layer of Physical AI while seeking collaborations in both the "brain" and "world" layers [4][38]. Key Beneficiaries - Major beneficiaries of the trends in industrial robotics include **FANUC**, **Keyence**, and **Mech-Mind** (the latter being a private company) [5][35]. - The report recommends an **Outperform** rating for FANUC, Keyence, Inovance, Cognex, Hikvision, and Harmonic Drive, while suggesting a **Market Perform** rating for Estun [51]. Additional Insights - The report emphasizes the **variance in robot penetration** across different industries, indicating significant growth potential in sectors with low automation adoption rates [2][19]. - The integration of **NVIDIA's technology** with FANUC's systems is highlighted as a strategic move to enhance simulation capabilities in production environments [49]. Conclusion - The industrial robotics sector is poised for substantial growth driven by advancements in Physical AI and complex task planning, with key players positioned to benefit from these trends. The forecasted CAGR of **12%** over the next decade reflects the optimistic outlook for the industry [2][11].

Core Insights - The report by Yiou Research Institute outlines ten strategic technology trends in China's technology mobility industry for 2026, focusing on autonomous driving, mobility technology, and new energy sectors, providing insights for industry players and investors [1][9]. Group 1: Cost Reduction and Efficiency - Chiplet technology is expected to become the standard for vehicle high-performance computing (HPC) by 2026, addressing the challenges of traditional SoC in terms of cost and power consumption [2][13]. - AI Box is projected to become a market breakout solution in 2026, providing flexible computing power without altering existing vehicle architectures, initially focusing on smart cockpits and later expanding to intelligent driving and body control domains [2][16]. - The domestic production of automotive-grade chips is advancing, with a focus on cost-effective, stable delivery, and local service, leading to a competitive landscape between international giants and local manufacturers [2][20]. - The 48V low-voltage architecture is set to be adopted in more flagship models by 2026, supporting high-power intelligent components, transitioning from initial partial adoption to a main distribution structure over time [2][26]. Group 2: User Experience Enhancement - Vehicle optical communication is expected to begin pilot projects in 2026, offering advantages such as high bandwidth and low latency, potentially replacing traditional vehicle Ethernet [3][23]. - The smart cockpit is entering its 3.0 era, evolving from a functional tool to a system-level intelligent entity capable of task planning and cross-domain collaboration, supported by an integrated "end-cloud-vehicle" architecture [3][31]. - The L3 autonomous driving technology is anticipated to enter a "small-scale, conditional" commercialization phase in 2026, with a focus on safety features like AEB becoming central to industry efforts [3][36]. - Small screens are emerging as a new interaction point in the cockpit, reducing cognitive load during driving and shifting the interaction logic from centralized to multi-screen collaboration [3][42]. Group 3: Ecological Innovation and Development - Physical AI technology is facilitating multi-ecosystem layouts, allowing automotive manufacturers to transition from vehicle integrators to cross-terminal AI capability platforms, promoting a second growth curve in the industry [5][39].

Summary of Key Points from the Earnings Call Transcript Industry Overview - **Industry Focus**: Autos & Shared Mobility in North America - **Key Themes for Earnings Season**: Memory shortage, commodity inflation, powertrain mix shift, physical AI, and policy impacts [1][11][17] Core Company Insights - **Preference for ICE over EV**: The company maintains an overweight (OW) rating on General Motors (GM) and Ford (F), while underweight (UW) on Rivian (RIVN) and Lucid (LCID) [1][2] - **Ford and GM Outlook**: Both companies are expected to present a positive outlook for 2026, having reduced EV exposure and shifted focus to higher-margin ICE products [3][4] - **Risks for EV OEMs**: Continued demand challenges for RIVN and LCID, with expectations of downside to profitability due to rising commodity costs [4][25] Financial Performance Expectations - **Earnings Projections**: - Ford: Revenue of $42.9 billion, adjusted EBIT of $1.14 billion, and EPS of $0.14 [12] - GM: Revenue of $45.3 billion, adjusted EBIT of $2.73 billion, and EPS of $2.23 [12] - RIVN: Revenue of $1.28 billion, adjusted EBIT of -$0.81 billion, and EPS of -$0.79 [12] - LCID: Revenue of $439 million, adjusted EBIT of -$0.77 billion, and EPS of -$2.55 [12] Commodity and Memory Cost Impacts - **Memory Shortages**: Anticipated cost headwinds of $300-$400 per vehicle for EVs and $100-$200 for ICE vehicles due to DRAM shortages [17][21] - **Commodity Inflation**: Significant increases in commodity prices, with lithium up 107%, copper up 45%, and steel up 37% since last January, potentially impacting margins for high-EV-exposed OEMs [18][21] Market Dynamics - **Auto Retail Outlook**: Positive sentiment towards auto retail, particularly for companies like Carvana (CVNA), with expectations of strong demand and resilient earnings models [5][10] - **Consumer Credit Concerns**: Elevated delinquency rates expected in January, but potential improvements linked to higher tax refunds could benefit auto OEMs and retailers [27] Strategic Shifts - **Powertrain Mix Shift**: Ford and GM are reducing EV capacity in favor of ICE vehicles, which could yield significant EBIT tailwinds [23] - **Investment in AI**: Increased capital allocation towards autonomy and robotics, with a focus on maintaining competitive advantages in the market [26] Policy Impacts - **Affordability and Credit Availability**: Concerns regarding auto affordability due to tariff-related inflation and tightening credit conditions, with potential impacts on consumer behavior and auto sales [27] Conclusion - The overall sentiment is cautiously optimistic for ICE manufacturers like Ford and GM, while EV manufacturers face significant challenges due to rising costs and demand issues. The auto retail sector shows promise, but credit conditions may pose risks in the near term.

Core Insights - The article discusses how Honeywell is leveraging "physical AI" to enhance operations in factories and refineries, addressing the challenge of skilled labor shortages [1] Company Strategy - Honeywell's CEO, Vimal Kapur, emphasizes the transition of AI from digital tools to physical infrastructure, indicating a strategic shift in how the company integrates technology into its operations [1] - The company aims to augment human workers rather than replace them entirely, showcasing a focus on collaboration between technology and skilled labor [1] Industry Context - The implementation of "physical AI" is positioned as a solution to current labor shortages in various industries, highlighting a broader trend of technology adoption in response to workforce challenges [1]

Core Insights - Serve Robotics Inc. (SERV) is expanding into the healthcare sector through the acquisition of Diligent Robotics, which specializes in AI-powered robot assistants for hospitals, with the deal expected to close in Q1 2026 [2][3] - The acquisition will be funded by issuing SERV common stock valued at $29 million to Diligent shareholders, with a potential earn-out of up to $5.3 million based on performance milestones [2] - Following the announcement, SERV stock increased by 3.1% in after-hours trading [4] Strategic Expansion - The acquisition allows Serve to enter indoor and healthcare environments, enhancing its ability to deploy autonomous systems that work alongside humans, marking its first foray into indoor robotics [3] - Serve will gain access to Moxi, an autonomous hospital robot that has completed over 1.25 million deliveries in over 25 U.S. hospitals, allowing clinical staff to focus more on patient care [5][6] - Each hospital deployment of Moxi is projected to generate annual revenues of $200K to $400K, contributing to improved fleet economics and validating high-revenue healthcare use cases [6][8] Inorganic Growth Strategy - Serve is pursuing a disciplined inorganic growth strategy to enhance its technological capabilities and scalability, having previously acquired Vayu Robotics and assets from Phantom Auto Inc. [7] - The acquisitions are focused on deepening core capabilities and supporting sustainable competitive advantages in the autonomous delivery market [7] Stock Performance - SERV stock has risen 21.2% over the past month, outperforming the Zacks Computers - IT Services industry's decline of 4.5% [8] - The company's third-generation fleet, equipped with advanced sensors, is expected to improve operational efficiency and reinforce SERV's competitive position [9]

Core Insights - Agora, Inc. has announced a strategic partnership with Sentino to develop a new AI Agent Platform for Physical AI, aimed at creating emotionally engaging AI companions for brands and device manufacturers [1][3] Group 1: Platform Features - The platform utilizes Agora's Conversational AI Engine, integrating real-time conversation with memory, emotion, and multimodal expression to enhance user engagement [2] - Key features include an "Agent OS" that generates context-aware inner thoughts, an AI Diary for capturing shared moments, and a Music Diary that transforms diary content into emotion-driven music [6][7][12] - The platform is designed to maintain presence and emotional connection, encouraging users to return for ongoing interactions rather than one-time engagements [4][10] Group 2: Market Positioning - Agora provides the foundational real-time AI infrastructure, while Sentino focuses on developing agent personas and companion features, allowing for rapid product launches without the need for extensive system development [9] - The collaboration aims to redefine Physical AI, making it feel personal and worth revisiting, thus enhancing user retention and emotional bonds [16][19] Group 3: Executive Perspectives - Executives from both companies emphasize the importance of building human-centric AI that transforms static characters into dynamic assets, fostering sustainable emotional economies with fans [15][21] - The platform is designed to evolve over time with ongoing updates and new scenarios, ensuring it remains relevant and engaging for users [15]

Core Insights - Nvidia's CEO Jensen Huang emphasized that AI robotics represents a "once-in-a-generation" opportunity for Europe, leveraging its strong industrial manufacturing base [1] - Huang noted that this opportunity allows Europe to "leap past" the software era dominated by the U.S. [2] Rise of AI Robotics - There is a growing focus on autonomous robotics within the industrial and tech sectors, driven by advancements in AI [3] - Major European companies like Siemens, Mercedes-Benz Group, Volvo, and Schaeffler have initiated robotics projects and partnerships in the past year [3] - Big Tech firms are also heavily investing in robotics, with Tesla's CEO stating that 80% of the company's value will derive from its Optimus humanoid robots, and Nvidia forming partnerships with Alphabet for physical AI [4] Energy Supply Concerns - To capitalize on AI opportunities, Europe must improve its energy supply to support necessary infrastructure investments [5][8] - High energy costs in Europe are a significant challenge, as highlighted by Microsoft’s CEO, who stated that energy costs will influence the success of countries in the AI race [5] - Huang pointed out that Europe is facing limited energy access while hyperscalers aim to deploy AI infrastructure [8] Infrastructure Buildout - Huang described the current AI infrastructure development as the "largest infrastructure buildout in human history," with hundreds of billions already invested and trillions needed for future expansion [9]