Unitree Robotics, the largest manufacturer of humanoid robots in the world, debuted on the Shanghai stock market on Wednesday. The company’s shares ended the first day of trading up more than 460%. The shares of the Chinese company finished at 845 yuan after being sold to investors for 150.80 yuan (£16.50; $22.36) each. Beijing’s ambitious aspirations for the nation’s robotics industry have reached a significant milestone with the much-awaited listing on the technology-focused Star Market, commonly known as China’s Nasdaq.
It occurs at a time when the US and China are fighting for control of the worldwide market for robots and the artificial intelligence (AI) models that drive them. Unitree is the first company in mainland China to list on the stock market, even though it is not the first Chinese manufacturer of humanoid robots. As big businesses like Tesla, BYD, and Amazon are creating two-legged machines that can carry out jobs typically performed by humans, the humanoid robotics sector is currently drawing enormous sums of investment.
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