宇树科技创始人称人形机器人真正突破或仍需2至10年，上市次日大跌

Humanoid robots may be a decade away from their "ChatGPT moment," Unitree Robotics founder Wang Xingxing has said, following his company's soaring market debut.
Unitree debuted in Shanghai on Wednesday and soared to close 460% above its 150.80 yuan offer price, more than five times the price at which the company priced its $905 million initial public offering, amid huge interest in humanoid robotics as an emerging sector.
But speaking Thursday at the World Robot Conference in Beijing, Wang said a true breakthrough for robotics — its "ChatGPT moment" — will be when a robot can be placed in an unfamiliar home and complete about 80% of tasks through text or voice commands alone.
That could "arrive in two to three years if things move fast, or five to 10 years if they move slowly," he said, according to CNBC's translation of his speech in Mandarin.
The forecast is more cautious than Wang's speech at the same conference last year, when he said such a moment could come in less than five years. The release of ChatGPT in November 2022 proved a game-changing moment for generative AI, helping ignite a bull run in tech stocks and the data-center buildout.
Wang's remarks underscore the gap between investor enthusiasm for humanoid robots and their current commercial capabilities.
Unitree's robots remain less efficient than human workers and must be retrained from scratch for each new task, Wang said. That inability to generalize across tasks and environments is the central obstacle facing the entire industry, Wang told the conference.
Unitree's stock dropped nearly 19% to close at 687 yuan on Thursday, according to LSEG data.
Founded in 2016, the company rose to prominence after videos of its robots dancing and throwing kung fu kicks went viral. But whether the technology behind the spectacle can scale commercially, with AI and software constraints unresolved, remains the question hanging over the stock.
Wang said in Thursday's speech that the core challenge is perfecting the precision of robots' movements, as they can reliably plan broad movements but fail at "the last few centimeters or millimeters."
To close the gap, Wang said Unitree was pursuing a "self-evolving development loop," where AI models write and test the robots' control code, and each round of results is scored and fed back in to sharpen the next version.
China dominates booming humanoid shipments
Global shipments of humanoid robots reached about 19,000 units in the first half of 2026, up 272% from a year earlier, with Chinese makers accounting for 97% of those sales, according to Morgan Stanley.
Morgan Stanley forecasts China's humanoid shipments to reach 50,000 this year, up from 12,000 in 2025.
"Unitree's IPO puts the commercial potential of China's robotics boom in the spotlight," said Ying Zhang, from the Economist Intelligence Unit. The next test for embodied AI, Zhang said, is whether technological advances translate into productivity gains and economic returns that justify large-scale deployment.
Nomura initiated coverage of Unitree on Wednesday, with a buy rating and a 370-yuan price target, citing its hardware cost moat and rapid product iteration. Outsourced components account for less than one-fifth of its total cost, helping expand the gross margin to 60% in 2025, from 44% in 2022, Nomura estimates.
Rapid product iteration and continuous innovation have also allowed Unitree to reach new application scenarios ahead of peers, giving it a "first-mover advantage" as fresh pockets of demand emerge, Nomura analysts said.
Tether CEO calls Unitree a 'company to watch'
Paolo Ardoino, CEO of stablecoin firm Tether, told CNBC that Unitree was "definitely the company to watch when it comes to the advancement in robotics."
Tether has made large investments in the robotics industry, and in June backed Germany's NEURA Robotics in a $1.4 billion fundraising round, alongside Nvidia, Amazon, Qualcomm and others.
Unitree "had incredible shows of skills over the last couple of years to showcase the precision, the ability, the dexterity of these robots. It's definitely a defining moment," Ardoino told "Squawk Box Europe" on Wednesday.
— CNBC's Evelyn Cheng contributed to this report.