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Unitree IPO latest: Chinese robotics company’s stock price will be closely watched in record-breaking trading debut
Unitree Robotics, a prominent Chinese company known for its humanoid and four-legged robots, is set to have its initial public offering on Wednesday. The company, founded in 2016, is the world's largest producer of humanoid robots, with notable examples including its dancing and kung-fu capable machines. Unitree's robots have previously appeared at high-profile events like the 2022 Winter Olympics and the 2023 Super Bowl. The company will list on the Shanghai Stock Exchange's STAR Market, a tech-focused platform similar to the Nasdaq. Shares are expected to be priced around $22 each, following a substantial IPO last week where the offering was oversubscribed by more than 8,000 times. This listing occurs shortly after the FCC's ban on foreign-made humanoid robots, primarily targeting China due to national security concerns. This FCC action could significantly impact companies like Unitree, though the ban is more likely aimed at advanced humanoid robots rather than consumer-friendly vacuum cleaners. The U.S. robotics sector, while containing companies like Boston Dynamics and Tesla, is considered smaller than its Chinese counterparts. Experts view the growth of the humanoid robot market and Unitree's IPO as another significant battleground in the ongoing AI and technological competition between the U.S. and China. China could potentially gain an edge not just by building the most intelligent robots, but by mass-producing them to gather extensive real-world data, thereby enhancing AI capabilities.