Unitree, Chinese Humanoid Robot Maker, Sees 629% Surge in Shanghai Debut

Shares of Unitree, a prominent Chinese humanoid robot manufacturer, experienced a remarkable surge of up to 629% during its public stock trading debut in Shanghai. The company, established in 2016 by entrepreneur Wang Xingxing in Hangzhou, raised approximately 6.1 billion yuan ($904 million) through its listing on the Shanghai Stock Exchange’s Nasdaq-style STAR market. Despite an initial share price of 150.80 yuan ($22.36), Unitree’s shares remained nearly 500% higher by midday. The field of advanced robotics, specifically ’embodied’ artificial intelligence, is a notable sector in the ongoing technological rivalry between China and the U.S. China currently surpasses the U.S. in…