Humanoid robots are having a moment. Earlier this week, Chinese robotics manufacturer UBTech announced it had obtained a 250-million-yuan ($35 million) procurement contract for its Walker S2 humanoid robots — the largest single order for humanoid robots globally to date. Tech billionaire Elon Musk is also a big fan of the tech. On Tuesday, Musk predicted that Tesla’s Optimus robots will eventually make up around 80% of the electric vehicle maker’s value. JPMorgan sees a few key players benefiting from the trend. In a research note Thursday, analysts at the bank said “the accelerating pace of commercialization, large-scale contract wins and ongoing supply chain ramp-up point to expanding market opportunities for leading players.” Humanoid robots are artificial intelligence-powered machines designed to resemble humans in appearance and movement. Manufacturers in the space have touted a range of possible uses, including in factories and even hospitals. JPMorgan’s analysts said they believe that Chinese companies will be the primary beneficiaries of the coming wave of humanoid robot adoption. Earlier this year, CNBC reported that Chinese robotics humanoid manufacturers were already making advances on their U.S. competitors, particularly when it comes to commercialization and pricing. JPMorgan highlighted its overweight rating on four Chinese firms: UBTech, Sanhua Intelligent , Leader Drive and Hengli Hydraulic . These stocks are all “well positioned to benefit from the sector’s transformation and increased demand for advanced robotics solutions,” JPMorgan’s infrastructure, industrials and transport research team wrote in the note Thursday. “2025 has marked a turning point for the humanoid robot industry, as order volumes and contract values have grown sharply, shifting market focus from pure R & D to actual delivery and application capabilities,” they said, adding that “competitive dynamics and commercialization strategies are shaping the next phase of humanoid robot industry growth.”
