Unitree Robotics shares jump 629% in Shanghai IPO raising $904 million
Unitree Robotics, a Chinese company known for its humanoid and four-legged robots, saw its shares jump an incredible 629% on their first day trading in Shanghai.
The IPO raised about $904 million, making Unitree the first humanoid robot maker to go public in mainland China.
Retail bids topped 7.07 trillion yuan
Unitree's IPO drew demand from investors, with retail bids topping more than 7.07 trillion yuan, way more than memory-chip giant CXMT Corp. in its blockbuster offering last month.
The company plans to use most of the money for AI research and ramping up production.
Big names like AI startup DeepSeek and investment arms of major state-owned enterprises also grabbed a slice of the action.
Last year alone, Unitree shipped more than 5,500 humanoid robots worldwide and pulled in strong profits, showing just how fast robotics is growing right now.