What is the TCS-DXC technology case? It is a trade-secret lawsuit in the US between Tata Consultancy Services (TCS) and US-based Computer Sciences Corporation (CSC), now part of DXC Technology. Since the mid-1990s, CSC has licenced core life-insurance software to the US insurer Transamerica, under agreements signed in 1994 and 1998, later amended in 1999 to add the CyberLife platform and in 2005 to add Vantage. In 2013, Transamerica hired TCS to maintain these CSC systems, and in 2016–18 TCS bid for, and th ...

InterGlobe Aviation (IndiGo,) shares are set to be listed as a constituent of the benchmark BSE Sensex index, effective from December 22, according to an official announcement on Friday. Tata Motors Passenger Vehicles Ltd will be dropped from the index, it added. Tata Motors demerged into two separate entities earlier this month — Tata Motors Passenger Vehicles (TMPV) and Tata Motors Commercial Vehicles (TMCV). This move increased the count of the index constituents on the Nifty 50. However, this had no eff ...

Nov 12, 2025 10:00 AM Eastern Standard Time Helix Partners with Bangor Savings Bank to Expand its Banking as a Service Capabilities Share New strategic partnership enables Bangor Savings Bank to expand its BaaS capabilities, advance operational efficiencies, and broaden access to innovative fintech collaborations Helix's cloud-native core helps financial institutions deliver strong BaaS and embedded finance programs and build digital brands. To learn more about Helix, please visit this link. To learn more a ...

Core Insights - Adeia Inc. received a favorable judgment from the Federal Court of Canada in its patent infringement case against Videotron Ltd. [1][2] - The court awarded Adeia a permanent injunction against Videotron's Helix, illico+, and illico video platforms for infringing on Adeia's media patents [2] - Adeia was also awarded damages for the infringement of two patents, while two other patents in the case were deemed invalid [2] Company Overview - Adeia Inc. is a leading research and development and intellectual property licensing company that focuses on innovative technologies in the media and semiconductor industries [4] - The company's innovations are fundamental to technology solutions that shape the future of digital entertainment and electronics [4] - Adeia's intellectual property portfolios support connected devices that impact millions of people globally in their daily lives [4]

Investment Rating - The report maintains an "Accumulate" rating for the mechanical equipment industry [4]. Core Insights - The focus of commercialization is on robotic brains, with Sim2Real potentially becoming the mainstream training method [2]. - The development of humanoid robot models is rapidly advancing, with Tesla's Optimus model demonstrating a high degree of human-like capabilities [3][29]. - The report suggests paying attention to listed companies involved in related hardware and software businesses, such as Pinming Technology [3]. Summary by Sections Section 1: Robotic Brain Development - The evolution from LLM to VLM and then to VLA models is enhancing the generalization and precision of robotic actions [1]. - VLA models are increasingly incorporating tactile inputs to improve robustness [1]. Section 2: Sim2Real Technology - Sim2Real utilizes synthetic data generation to help robots accumulate experience through diverse scenarios, linking virtual and real-world data for training [2]. - The technology involves a tri-computer setup: an AI supercomputer, a simulation computer, and a physical AI computer [2]. Section 3: Tesla's Optimus Model - Tesla's Optimus integrates AI systems from FSD and xAI's Grok model, achieving high levels of human-like interaction and physical self-awareness [3][29]. - The model's architecture allows it to process various sensory data to generate action commands directly from raw sensor inputs [33]. Section 4: Emerging Technologies and Models - The report discusses several innovative models, including RT-1, RT-2, Magma, and ViLLA, each contributing to bridging the gap between visual/textual inputs and robotic actions [14][17][22]. - The introduction of the "force-position hybrid control algorithm" by the Beijing General Artificial Intelligence Research Institute shows significant improvements in task success rates [58]. Section 5: Market Trends - The mechanical equipment industry is projected to experience varying growth rates, with a notable increase expected in the coming years [5].

Core Insights - Figure has launched its next-generation humanoid robot, Figure03, designed for mass production from the outset, marking a significant milestone in the humanoid robotics sector [1][4] - The company has established a "self-research + external support" supply chain model, collaborating with multiple domestic manufacturers to enhance production capabilities [5][6] - The robot is engineered for home environments, featuring soft fabric coverings and lightweight structures to improve safety and comfort during human-robot interactions [1][3] Technological Advancements - Figure03 integrates advanced features such as a dexterous hand with visual-tactile sensors, enabling stable operation in visually restricted environments [1][3] - The robot supports wireless charging through its feet, allowing for seamless operation and continuous learning while charging [3][4] - The hardware architecture is designed to maximize the capabilities of Helix, the robot's AI brain, facilitating end-to-end reasoning from visual perception to action control [3] Production and Market Strategy - Figure03 is the first humanoid robot designed with mass production in mind, shifting from high-cost CNC machining to more efficient mold-based processes [4] - The company plans to establish its BotQ smart factory with an initial production capacity of 12,000 units per year, aiming for a total capacity of 100,000 units within four years [4] - The anticipated valuation for Figure is projected to reach $39 billion by 2025, supported by significant investments from major tech companies [2] Supply Chain Integration - The supply chain strategy involves both self-designed and vertically integrated components, with partnerships established with global suppliers to support production goals [5][6] - The reliance on Chinese hardware suppliers is expected to deepen, benefiting those with engineering mass production capabilities and cost control advantages [6]

Core Insights - The mechanical equipment industry is witnessing a significant valuation increase, with the C round funding in 2025 projected to reach $39 billion, backed by major tech investors like Nvidia, Intel, Qualcomm, Microsoft, and Amazon [1][2] - The Figure03 humanoid robot has been launched, designed for mass production and focusing on home applications, enhancing safety and comfort in human-robot interactions [2][3] - The industry is evolving towards a new valuation system, with expectations of over 100,000 units shipped in four years, potentially leading to a valuation close to $40 billion [1][2] Investment Landscape - The Figure03 robot is the first humanoid robot designed for large-scale manufacturing, featuring a lightweight structure and soft fabric covering for improved safety [2][4] - The robot's capabilities include advanced tactile sensing and wireless charging, allowing it to perform complex household tasks [3][4] - The company aims to produce 12,000 units annually at its BotQ smart factory, with a total production capacity of 100,000 units planned over four years [4][5] Supply Chain Dynamics - Figure employs a "self-research + external support" supply chain model, integrating key components like actuators and sensors while collaborating with global suppliers [5] - The reliance on Chinese hardware suppliers is expected to deepen, benefiting those with engineering mass production capabilities and cost control advantages [5] Recommended Investment Targets - Recommended stocks include companies involved in dexterous hands and tactile sensors, such as Zhenyu Technology and Longsheng Technology [6] - Beneficiary stocks include those producing modules and structural components, such as Lingyi Technology, Changying Precision, and Lens Technology [6]

Investment Rating - The investment rating for the machinery equipment industry is "Positive" (maintained) [1] Core Insights - The report highlights the significant advancements in humanoid robots, particularly the launch of Figure 03, which is designed for mass production and household applications, enhancing safety and comfort in human-robot interactions [5][14] - The report emphasizes the rapid technological iterations and ecosystem development of Figure, achieving a valuation of $39 billion after its C round financing, with major investments from tech giants like NVIDIA and Amazon [21][23] - The humanoid robot industry is gradually forming a new valuation system, with projections indicating that Figure plans to ship over 100,000 units in four years, potentially leading to a market valuation of around 400 billion RMB [23] Summary by Sections 1. Launch of Figure 03 - Figure 03 is the first humanoid robot designed for large-scale production, focusing on household scenarios with features like soft fabric covering and lightweight structure, which improves safety and comfort [5][14] - The robot is equipped with dexterous hands that integrate tactile sensors, allowing it to perform complex household tasks such as folding shirts and cleaning tables [5][16] 2. Helix as the Core - The hardware architecture of Figure 03 is tailored for the Helix model, which serves as the robot's brain, enabling end-to-end reasoning from visual perception to motion control [26][28] - Helix has demonstrated rapid adaptability across various environments, showcasing its ability to learn from diverse tasks [26] 3. Domestic Supply Chain Integration - Figure employs a "self-research + external support" supply chain model, collaborating with domestic manufacturers to enhance production capabilities [39][40] - The company aims to deepen its reliance on suppliers with engineering mass production capabilities, which is expected to benefit those with cost control advantages [39] 4. Investment Recommendations - Recommended stocks include Zhenyu Technology for dexterous hands and Longsheng Technology for tactile sensors, with additional beneficiaries identified in module and structural components [41]

Core Insights - Figure 03 marks the official launch of the next-generation humanoid robot, signifying the beginning of the era of general-purpose robots [1][3] - The robot is designed for Helix, home use, and global scalability, featuring significant upgrades in design and functionality [3][8] Design and Features - Figure 03 features a flexible fabric outer layer, replacing the mechanical shell, and integrates a wide-angle camera in each palm [3][8] - The robot can perform various tasks such as watering plants, serving tea, and cleaning, showcasing unprecedented intelligence and adaptability [3][8] - Each fingertip can sense a pressure of 3 grams, allowing it to detect even the weight of a paperclip [3][17][20] Technological Advancements - The robot is powered by Helix, an in-house developed visual-language-action model, enabling it to learn and operate autonomously in complex environments [10] - The visual system has been optimized for high-frequency motion control, improving clarity and responsiveness, with a frame rate doubled and latency reduced to a quarter [11][12] - Figure 03 supports 10 Gbps millimeter-wave data offloading, allowing for continuous learning and improvement from a fleet of robots [18] Manufacturing and Scalability - Figure aims to produce 100,000 units over the next four years, establishing the BotQ factory with an initial annual capacity of 12,000 units [8][22] - The design allows seamless transitions between home and commercial applications, with enhanced speed and torque density for faster operations [21][22] User Experience and Safety - The robot features a soft, adaptable design to ensure safety and ease of use, with a 9% reduction in weight compared to its predecessor [19] - It includes a wireless charging system and a robust battery management system, certified by international standards [19][24] - Users can customize the robot's appearance with removable, washable coverings [24]

Group 1 - Figure, a leading company in humanoid robotics, announced the release of Figure 03, featuring an optimized visual system for high-frequency visual-motion control [1] - The new camera architecture in Figure 03 doubles the frame rate, reduces latency to one-fourth, increases the field of view by 60%, and is more compact, enhancing the robot's perception in complex environments [1] - The hand design of Figure 03 shows significant improvements in compliance and tactile feedback, allowing for stable grasping of various shapes and sizes of objects [1] Group 2 - In the A-share market, Sairis announced a cooperation framework agreement between its subsidiary Chongqing Phoenix Technology Co., Ltd. and Beijing Volcano Engine Technology Co., Ltd. [1] - Longying Precision has established partnerships with AI Figure and leading North American humanoid robotics companies [2] - Green Harmony is closely monitoring cutting-edge technologies and innovative companies in the industry, including the American Figure robotics company, and is actively exploring the application of planetary roller screws in non-robotic sectors [2] Group 3 - Analysts from Dongfang Securities believe that both domestic and overseas leading companies are expressing production outlooks, indicating that the humanoid robotics sector is approaching mass production, with potential for industry resonance next year [1]