The Robots Are Coming 1.0
The biggest theme in market history.
And they’re not far off.
Today, AI is mostly contained to chatbots, agentic AI workflows, coding, search, image, and video. It can write, research, analyze, summarize, code, plan, and automate tasks faster than any human ever could.
But the next major phase of AI isn’t just going to live behind a screen.
It will move into the physical world. This is where robotics comes in.
For the last few years the entire AI trade has been centered around compute, GPUs, data centers, power, networking, power, energy, memory, and the infrastructure needed to train and run increasingly powerful models. Before AI can act in the real world, it needs the intelligence layer first.
It needs the brain.
Now that brain is getting better at an insane pace, and it leaves one major question.
What happens when you give that brain arms, legs, sensors, cameras, hands, and the ability to interact with the physical world?
That is the opportunity robotics represents.
Humanoids, warehouse robots, industrial automation, defense drones, autonomous machines, surgical robots, and physical AI systems are all part of the same bigger theme. AI is moving from chat bots that answer questions to systems that can take action.
Just yesterday, Figure Robotics livestreamed a team of humanoid robots running a full 8+ hour shift at human performance levels. The demo was a fully autonomous running Helix-02, completing warehous packaging and sorting tasks a human normally would at an exceptional rate.
This is going to become one of the most important market themes of the next several years.
The government is going to pour so much capital into this group in a race against China that I think it eventually becomes one of the biggest themes in the history of the market.
The market has spent the last few years pricing in the intelligence layer. The next trade may be about pricing in what happens when that intelligence gets a body…
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In the remainder of this article I’m going to dive into my robotics thesis, the names I’m watching in the market today, which names I’m most focused on adding, hidden names many people don’t know about in this theme, which names I currently have positions in, and why I believe this group could become one of the next major market themes.
I see a lot of robotics watchlists out there that miss most of the best names in the market.
This primer does not.
What you’re about to read will be the first edition of what I hope becomes a larger series on robotics, hence the 1.0 in the title. For a theme this big and one that is changing so quickly, I think it will be worth revisiting over and over again.
This is a theme that will likely evolve in waves. I believe it has a shot to be one of the biggest themes and opportunities in the history of the market.