物理AI正经历结构性重估，成为新一轮工业革命的核心驱动力。2026年第一季度，物理AI领域融资达73.8亿美元，已超过2025年全年的37.7亿美元，是2024年全年22.4亿美元的三倍多，以11%的交易份额领跑所有AI细分领域[1]。中位数融资额从2025年的6100万美元飙升至1.65亿美元，其中72%的交易都是九位数起步[1]。这一融资格局的转变反映出行业已从探索阶段转向商业验证阶段——2026年首次融资占比从2025年的50%骤降至8%，92%的资金流向了已证明过自己的公司[1]。
技术突破与产业应用正加速落地。NVIDIA发布了Cosmos 3 Edge边缘模型，Google DeepMind推出Gemini Robotics 2以控制人形机器人执行复杂任务[1]。在商业化方面，Figure 03的出货数据显示增长态势，2月出货60台、3月120台、4月240台，4月底累计交付350余台，5月在8小时内完成了12732个包裹的分拣[1]。Unitree 2025年出货超5500台，占全球约32%的市场份额，一季度出口同比增长210%，该公司已于科创板IPO募资约6.22亿美元，估值62亿美元，计划2026年出货2万台人形机器人[1]。工信部预计2026年全国人形机器人产量将超10万台[1]。
市场前景预期乐观。PwC Strategy&预测全球物理AI市场到2030年将达约4300亿欧元[1]，花旗则预测到2035年全球人形机器人数量将达1300万台，各类物理AI设备总量将超13亿台[1]。真实数据短缺仍是物理AI发展的核心瓶颈[1]。
Physical AI is undergoing structural revaluation and establishing itself as the core of a new industrial revolution. First-quarter 2026 funding in the physical AI sector reached $73.8 billion, surpassing the entire 2025 annual total of $37.7 billion [1]. With an 11% deal share, physical AI led all AI subsectors in the period [1]. Major technology firms have accelerated their commitment to the field: NVIDIA released the Cosmos 3 Edge edge model, while Google DeepMind introduced Gemini Robotics 2 for controlling humanoid robots to perform complex tasks [1].
The market has transitioned from exploratory phases into commercial validation, with capital allocation patterns shifting dramatically. The median funding amount surged from $61 million in 2025 to $165 million in 2026, with 72% of deals starting at nine figures [1]. First-time funding deals plummeted from 50% of total transactions in 2025 to just 8% in 2026, as 92% of capital now flows to proven companies [1]. Acute data scarcity has emerged as the sector's central bottleneck [1].
Humanoid robot deployments illustrate the acceleration. Unitree captured approximately 32% of the global market share in 2025 with over 5,500 units shipped, and achieved 210% year-over-year export growth in the first quarter [1]. Figure 03 demonstrated rapid scaling, delivering 60 units in February, 120 in March, and 240 in April, with cumulative deliveries exceeding 350 units by late April; in May, the robots sorted 12,732 packages within 8 hours [1]. Unitree's Science and Technology Board IPO raised approximately $622 million at a $6.2 billion valuation, with plans to deliver 20,000 humanoid robots in 2026 [1]. China's Ministry of Industry and Information Technology projects national humanoid robot production will exceed 100,000 units in 2026 [1].
Long-term market projections underscore the transformative scale ahead. PwC Strategy& estimates the global physical AI market will reach approximately 430 billion euros by 2030 [1]. Citigroup projects that by 2035, the global humanoid robot fleet will reach 13 million units, with total physical AI devices across all categories exceeding 1.3 billion [1].
