马年伊始，具身智能领域迎来重磅融资消息。 2月24日，具身智能头部企业千寻智能（Spirit AI）在近期连续完成两轮融资近20亿元，该融资总额创下近期具身智能 领域新高。 本轮融资阵容堪称行业资本的集中亮相：云锋基金、某头部国资机构、混沌投资（葛卫东）、红杉中国等超一线机构 重磅入局；Synstellation Capital、TCL创投、明荟投资（汇川技术董事长朱兴明家办）等产业资本协同加注；重庆产业 投资母基金、杭州金投等国有资本鼎力支持；360基金、厚雪资本等战投机构共同参与，形成覆盖顶级资本、产业巨 头、国有资本及战投大咖的全方位赋能格局。 值得关注的是，顺为资本、Prosperity7、达晨财智、柏睿资本、弘晖基金、华泰紫金、东方嘉富、千乘资本、广发信 德等老股东全部选择继续大额认购，以持续加码的实际行动，彰显对公司技术路线与发展前景的坚定信心。 千寻智能成立于2024年1月，是一家专注于构建机器人"通用大脑"的具身智能公司。公司创始人兼CEO韩峰涛是一名机 器人行业连续创业者。联合创始人高阳是"伯克利归国四子"之一，也是清华大学交叉信息研究院助理教授。高阳从利 用互联网视频以及预训练VLM角度， ...

马年伊始，具身智能领域迎来重磅融资消息。 2月24日，21世纪经济报道记者获悉，具身智能头部企业千寻智能（Spirit AI）在近期连续完成两轮融资近20亿元，该融资总额创下近期具身智能领域新 高。 本轮融资阵容堪称行业资本的集中亮相：云锋基金、某头部国资机构、混沌投资（葛卫东）、红杉中国等超一线机构重磅入局；Synstellation Capital、 TCL创投、明荟投资（汇川技术董事长朱兴明家办）等产业资本协同加注；重庆产业投资母基金、杭州金投等国有资本鼎力支持；360基金、厚雪资本等 战投机构共同参与，形成覆盖顶级资本、产业巨头、国有资本及战投大咖的全方位赋能格局。 值得关注的是，顺为资本、Prosperity7、达晨财智、柏睿资本、弘晖基金、华泰紫金、东方嘉富、千乘资本、广发信德等老股东全部选择继续大额认购， 以持续加码的实际行动，彰显对公司技术路线与发展前景的坚定信心。 千寻智能成立于2024年1月，是一家专注于构建机器人"通用大脑"的具身智能公司。公司创始人兼CEO韩峰涛是一名机器人行业连续创业者。联合创始人 高阳是"伯克利归国四子"之一，也是清华大学交叉信息研究院助理教授。高阳从利用互联网视频 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 马年伊始，具身智能领域迎来重磅融资消息。 2月24日，具身智能头部企业千寻智能（Spirit AI）在近期连续完成两轮融资近20亿元，该融资总额创 下近期具身智能领域新高。 本轮融资阵容堪称行业资本的集中亮相：云锋基金、某头部国资机构、混沌投资（葛卫东）、红杉中国 等超一线机构重磅入局；Synstellation Capital、TCL创投、明荟投资（汇川技术董事长朱兴明家办）等 产业资本协同加注；重庆产业投资母基金、杭州金投等国有资本鼎力支持；360基金、厚雪资本等战投 机构共同参与，形成覆盖顶级资本、产业巨头、国有资本及战投大咖的全方位赋能格局。 值得关注的是，顺为资本、Prosperity7、达晨财智、柏睿资本、弘晖基金、华泰紫金、东方嘉富、千乘 资本、广发信德等老股东全部选择继续大额认购，以持续加码的实际行动，彰显对公司技术路线与发展 前景的坚定信心。 千寻智能成立于2024年1月，是一家专注于构建机器人"通用大脑"的具身智能公司。公司创始人兼CEO 韩峰涛是一名机器人行业连续创业者。联合创始人高阳是"伯克利归国四子"之一，也是 ...

Group 1 - The core viewpoint highlights the accelerating growth in the robotics sector, with Tesla set to release its next-generation robot soon and the reappearance of robots at the Spring Festival Gala [1] - Qianxun Intelligent's embodied intelligence model Spirit v1.5 has topped the RoboChallenge evaluation list, surpassing the well-known foreign model pi0.5, becoming the only model with a success rate exceeding 50% [1] - Zhujie Power has launched the embodied intelligent system LimX COSA, integrating high-level cognition with full-body motion control, enabling robots to think and act simultaneously in the physical world [1] Group 2 - Zivariable Robotics has completed a 1 billion yuan A++ round of financing, with investments from ByteDance, Sequoia China, and others, aimed at iterating general embodied intelligence models and productization [2] - The partnership between Xingdong Jiyuan and SF Technology focuses on logistics scenarios, promoting the development and application of embodied intelligent robot technology to enhance logistics efficiency and quality [2] - Xingdong Jiyuan has introduced a comprehensive embodied intelligent warehousing logistics solution that collaborates deeply with customer logistics systems for adaptive operations [2] Group 3 - The year 2026 is seen as a critical point for humanoid robots, with expectations for mass production and supply chain developments, potentially increasing domestic shipments from thousands to tens of thousands [3] - Key areas of focus include the convergence of Tesla's supply chain, technological iterations, overseas supply chain opportunities, domestic application verticals, and long-term investment in quality patterns [3] Group 4 - Important industry events include the completion of Zivariable Robotics' financing on January 12, the release of a new world model by Norwegian humanoid robot company 1X on January 14, and the launch of the first industrial embodied software platform by Leju on January 15 [4] Group 5 - The industry is experiencing intensified competition, with automotive and electric vehicle sales falling short of expectations, and progress in humanoid robots not meeting anticipated timelines [5]

Investment Rating - The report indicates a positive investment outlook for the humanoid robotics sector, highlighting 2026 as a pivotal year for the commercialization of humanoid robots [4]. Core Insights - The robotics industry is experiencing accelerated growth, with significant advancements in embodied intelligence models and partnerships aimed at enhancing logistics and operational efficiency [2][3][4]. - Key players like Qianxun Intelligent and Zhujidi Dynamics are making strides in developing advanced robotic systems, with Qianxun's Spirit v1.5 model achieving top rankings in evaluations and Zhujidi's LimX COSA system integrating high-level cognition with full-body control [2][28]. - The report emphasizes the importance of capital investment in driving technological innovation and market expansion within the robotics sector, as evidenced by substantial funding rounds for companies like Zivariable Robotics and Skild AI [3][31][17]. Summary by Sections 1. Robotics - The robotics sector is witnessing a surge in activity, with a focus on commercializing embodied intelligence and enhancing operational capabilities across various industries [9][10]. - Significant partnerships, such as the collaboration between Xingdong Jiyuan and SF Technology, aim to advance logistics automation through intelligent robotic solutions [3][36]. 1.1 Industry Dynamics - Recent policy shifts are steering the industry towards commercialization, with initiatives like Zhejiang's new industrialization plan emphasizing the development of humanoid robots and their core components [10][11]. - The report notes a growing trend of companies establishing strategic collaborations to enhance their technological capabilities and market reach [37]. 1.2 Main Body - Qianxun Intelligent's Spirit v1.5 model has achieved a breakthrough in performance, becoming the first model to exceed a 50% success rate in evaluations, and is now open-sourced for community development [26]. - Zhujidi Dynamics has launched the LimX COSA system, which merges cognitive functions with physical control, enabling robots to perform complex tasks autonomously [28]. - Zivariable Robotics has secured 1 billion yuan in funding to enhance its general-purpose robotic models and expand its operational capabilities in high-value scenarios [31]. 1.3 Core Components - The report highlights ongoing investments in core components and technologies essential for the robotics industry, including advancements in sensors and control systems [36]. - Companies like Shafler and Jiangsu Huaxuan are forming strategic partnerships to innovate in humanoid robot components, indicating a robust ecosystem for technological development [37].

Core Viewpoint - The article discusses the launch of Spirit v1.5, which has become the world's strongest open-source embodied model, surpassing the previous benchmark Pi0.5, indicating a significant advancement in embodied intelligence technology [3][6]. Group 1: Development of Embodied Intelligence - The launch of Spirit v1.5 marks a pivotal moment in embodied intelligence, showcasing a task success rate of over 50% in real-world scenarios, compared to Pi0.5's 42.67% [6]. - The founder of the company believes that 2026 will be a competitive year for embodied intelligence, similar to the rapid advancements seen in large language models in 2023 [6][9]. - The company plans to expand its data collection team to nearly 1,000 people to enhance data quality and quantity, which are crucial for model performance [6][36]. Group 2: Historical Context and Market Position - The Chinese industrial robot market has seen a significant rise, with domestic robots' market share increasing from 3% in 2015 to over 50% by 2024 [8][12]. - The founder emphasizes that the current era of embodied intelligence is driven by revolutionary changes in AI technology, which allows robots to perform meaningful tasks [9][20]. - The company aims to differentiate itself by focusing on AI as the core of its operations, rather than merely hardware production [18][24]. Group 3: Data Collection and Model Training - The company is developing its own data collection systems to gather sufficient data for training models, aiming for a target of 1 million hours of data to achieve better model performance [36][40]. - The founder highlights the importance of collecting real-world data through their robots, as opposed to relying on third-party data, which may not be effective for training [37][38]. - The company believes that achieving a model capable of L2 tasks, such as folding clothes, is essential for commercial viability and will enable the data flywheel to turn effectively [32][40]. Group 4: Future Outlook and Market Potential - The company anticipates that the market for capable robots will grow significantly, with potential sales volumes reaching levels comparable to automobiles and smartphones [28][29]. - The founder predicts that 2026 will be a critical year for embodied intelligence, akin to the pivotal moments seen in the development of large language models, leading to increased investment and interest in the sector [44].

Group 1 - Google has launched and open-sourced the Universal Commercial Protocol (UCP) in collaboration with over 20 retail giants, including Shopify and Walmart, to establish a unified open standard for AI agents in shopping, covering the entire process from product discovery to after-sales service [1] - The UCP has been implemented in Google's search AI mode and the Gemini application, featuring "agent checkout" functionality that supports Google Pay and will soon integrate with PayPal, allowing retailers to maintain their transaction identity [1] - By fully open-sourcing the UCP, Google aims to lower the barriers for ecosystem participation, enabling small and medium-sized businesses to benefit from AI shopping [1] Group 2 - Midjourney has updated its Niji model to version 7, focusing on anime-specific features, correcting the previous version's tendency towards realism, and enhancing details in expressions, dynamic poses, and material textures [2] - The new sref style reference feature allows users to upload three reference images to maintain a consistent art style, significantly improving the model's understanding and ability to accurately interpret complex prompts [2] - Testing shows that version 7 surpasses version 6 in light and shadow details, stability in complex poses, and the quality of pure anime line art, making it particularly suitable for storyboard generation and series creation [2] Group 3 - UniPat AI, in collaboration with Sequoia China and xbench, has released the BabyVision benchmark, which breaks down visual capabilities into four categories and 22 sub-tasks [3] - The evaluation results indicate that Gemini-3-Pro-Preview is the only model exceeding the baseline of a 3-year-old child, but it still falls short by 20 percentage points compared to a 6-year-old child, with many models struggling on simple tasks [3] - The research highlights a major shortcoming of Visual Language Models (VLMs), which is their inability to fully verbalize visual information, leading to loss of detail when compressing into tokens, making it difficult for models to perform tasks like tracing lines or stacking blocks [3] Group 4 - Kunlun Wanwei has launched Skywork Video v1.0 on the Tiangong Super Intelligent Agent platform, integrating the creative process into a "project-based" model where all materials are automatically collected and added to a multi-track editor [4] - The platform offers five initiation methods, including text generation, image animation, frame completion, multi-image style reference generation, and digital human video generation, with a built-in multi-track editor supporting detailed operations like splitting and replacing [4] - The Skywork product matrix now covers a full range of modalities from documents, spreadsheets, and presentations to video generation, creating a smart office platform that supports multiple scenarios and modalities [4] Group 5 - The world's first embodied Agentic OS, named COSA, has been released by Zhujidi Dynamics, featuring a three-layer architecture that integrates basic models, high-level skill layers, and cognitive decision-making layers [6] - COSA endows robots with three core capabilities: understanding vague instructions, cross-temporal semantic memory, and the ability to execute tasks seamlessly [6] - Unlike Figure AI's Helix end-to-end VLA model, COSA is built from the ground up as an operating system for the physical world, demonstrating significant advantages in the integration of movement and operation capabilities [6] Group 6 - Qianxun Intelligent has open-sourced its VLA base model Spirit v1.5, ranking first on the RoboChallenge Table30 leaderboard, surpassing Pi0.5 and receiving praise from NVIDIA's Jim Fan [7] - The core breakthrough of Spirit v1.5 lies in its "open, goal-driven" data collection strategy, moving away from "clean data" to internalizing physical common sense, resulting in a 40% improvement in fine-tuning convergence speed [7] - The unstructured collection method has increased the average effective collection time per person by 200% and reduced reliance on algorithm experts by 60%, with open-source weights and inference code available for community exploration [7] Group 7 - Anthropic co-founder Jack Clark revealed conflicting internal survey data indicating that while 60% of Claude users report a 50% increase in productivity, METR research shows that developers familiar with codebases experience a 20% decrease in AI tool-assisted PR merge speed [8] - Clark pointed out the "barrel principle" in code production, where writing speed may increase tenfold, but review speed only doubles, preventing an explosive overall efficiency increase, with no truly self-improving AI expected by January 2026 [8] - He emphasized that if the Scaling Law hits a wall, it would be shocking, as current massive infrastructure investments suggest most are betting on the opposite outcome, and breakthroughs in distributed pre-training could alter the political and economic structure of AI [8] Group 8 - Linus Torvalds, the creator of Linux, has released his first Vibe Coding project, AudioNoise, on GitHub, utilizing Google's Antigravity to generate a Python visualization tool, admitting it performs better than his own coding [9] - The project originates from the design of a guitar effects pedal and primarily explores foundational knowledge in digital audio processing, including IIR filters and delay loops for zero-latency single-sample processing [9] - Just five days prior, Torvalds criticized AI-generated code as "ridiculously stupid," making his subsequent use of AI tools a topic of discussion in the tech community, marking a "true fragrance moment" [9] Group 9 - Elon Musk predicts that AGI will be achieved by 2026 and that by 2030, AI will surpass the total intelligence of all humanity, with AI performance improving tenfold each year, and xAI's Memphis Colossus 2 data center reaching 1 gigawatt power by mid-January [10] - He introduced three key terms for AI safety: truth, curiosity, and beauty, forecasting that within three years, the surgical capabilities of robots will exceed those of top surgeons, and within five years, robots will transition from scarcity to abundance, with 10 billion units by 2040 [10] - Musk emphasized the view that "the sun is everything" in terms of energy, praised China's solar energy capacity of 1,500 gigawatts annually, and predicted that the essence of currency will become watts, with white-collar jobs being the first to be replaced by AI, ultimately leading to universal prosperity [10]

Core Insights - The article discusses the significant advancements in embodied intelligence, particularly highlighting the emergence of the Spirit v1.5 model from Qianxun Intelligent, which has surpassed previous models like Pi0.5 in performance [3][4][15]. Group 1: Key Developments in Embodied Intelligence - 2025 marked a breakthrough year for embodied intelligence, with hardware advancements and the development of foundational models defining the intelligence ceiling of this technology [3]. - The Spirit v1.5 model was open-sourced on January 12, 2026, and achieved the top position in the RoboChallenge's Table30 ranking, outperforming Pi0.5 [4][8][15]. - The open-sourcing of Spirit v1.5 includes model weights, inference code, and usage examples, allowing for public verification and community innovation [6][33]. Group 2: Performance Metrics and Evaluation - Spirit v1.5 scored 66.09 on the RoboChallenge leaderboard, while Pi0.5 scored 61.84, indicating a significant performance improvement [11][14]. - The RoboChallenge platform focuses on real-world physical testing, with a task set designed to challenge various dimensions of model capabilities, including precise 3D positioning and multi-stage tasks [15]. Group 3: Data Utilization and Training Paradigms - Spirit v1.5's success is attributed to a fundamental restructuring of the robot pre-training data paradigm, moving away from "clean data" to a more diverse and open-ended data collection strategy [18][20]. - The model's training involved continuous skill flows and internalized error correction capabilities, allowing it to adapt dynamically to unexpected challenges [21][22]. Group 4: Implications for the Industry - The open-source nature of Spirit v1.5 represents a significant shift in the industry, providing a competitive alternative to closed-source models and enabling broader access to high-performance robotics technology [35][39]. - The model's development and open-source release are seen as a pivotal moment for Chinese teams in the global AI landscape, transitioning from followers to leaders in defining core technological paths [41][42].

Core Insights - The article discusses the advancements in embodied intelligence, particularly focusing on the Spirit v1.5 model developed by Qianxun Intelligent, which has achieved significant milestones in both performance evaluation and real-world application [1][4][20]. Group 1: Model Performance and Evaluation - The Spirit v1.5 model ranks first in the RoboChallenge leaderboard with a score of 66.09 and a success rate of 50.33%, surpassing the previous leader Pi0.5, which scored 61.84 with a 42.67% success rate [2][11]. - RoboChallenge is highlighted as a unique evaluation platform that addresses the fragmentation and lack of standardization in traditional robot testing, providing a fair assessment environment through unified task standards and evaluation metrics [5][7]. - The evaluation includes 30 real-world tasks, such as flower arrangement and sandwich making, which test various technical challenges like 3D positioning and occlusion handling [9][10]. Group 2: Real-World Application - The humanoid robot "Xiao Mo," equipped with the Spirit v1.5 model, has been deployed in the Ningde Times production line for new energy battery PACK production, marking a significant achievement in validating the model's performance in industrial settings [4][19]. - Xiao Mo has demonstrated a connection success rate of over 99% in critical tasks, significantly improving operational efficiency by three times compared to human workers, while also mitigating safety risks associated with manual operations [19][23]. Group 3: Industry Implications - The advancements made by Qianxun Intelligent signify a shift in the embodied intelligence industry, where the technology is now capable of both high performance in evaluations and practical application in industrial environments, addressing the disconnect between technology and industry [20][23]. - The success of the Spirit v1.5 model indicates that domestic embodied models can compete with international counterparts, providing a reliable option for automation projects and reducing implementation risks for system integrators [26][28]. - This breakthrough is seen as a key to driving industrial transformation in China, marking the transition from a phase of technological exploration to practical application in the field of robotics [24][28].

Core Viewpoint - The article highlights the significant achievement of Spirit v1.5 from Qianxun Intelligent, which has topped the RoboChallenge leaderboard, surpassing the American model Pi0.5, marking a milestone in embodied intelligence models [1][5][9]. Performance Summary - Spirit v1.5 scored 66.09 with a success rate of 50.33%, outperforming Pi0.5, which scored 61.84 with a success rate of 42.67% [2][5]. - The model excelled in various tasks, including stacking bowls (100% success), putting cups on coasters (90%), and searching for green boxes (90%) [3][10][11]. - Spirit v1.5 is the first domestic embodied model to exceed a 50% success rate in RoboChallenge since its launch [3][9]. Data Strategy Innovation - The core innovation of Spirit v1.5 lies in its diverse data strategy during the pre-training phase, shifting from highly controlled "clean data" to a more varied and open data collection approach [33][34]. - This strategy allows for a broader range of actions and better adaptation to real-world uncertainties, enhancing the model's transfer and generalization capabilities [40][44]. Open Source Contribution - Spirit v1.5 has been open-sourced, including model weights, inference code, and usage examples, facilitating further research and development in the field of embodied intelligence [7][68]. - The open-source nature of the model aligns with the goal of promoting reproducible and verifiable advancements in embodied intelligence [71][72]. Company Background - Qianxun Intelligent, established in January 2024, is recognized for its comprehensive AI and robotics capabilities, focusing on general humanoid robots and large-scale models [58][59]. - The company has secured significant funding, including over 1.5 billion yuan in 2025, indicating strong investor confidence and growth potential [61].