The Index
400 dossiers · 1 need attention
A research screener for every company we cover. Search a name or ticker, then sort and triage dossiers by coverage freshness, our conviction and trading relevance.
| A genuine engineering bet (tendon-driven safe humanoid + in-home data flywheel) wrapped in a marketing fiction — NEO ships "autonomous" but runs on stranger-in-a-VR-headset teleop, and the company most likely to make it work, OpenAI, just became its competitor. | — | 0 | |
| The only humanoid actually billing paying customers for real warehouse work — but it is being squeezed between Figure's $39B AI-narrative capital and Unitree's $16K Chinese hardware, and SoftBank already tried to buy the whole thing for under $1B. | — | 8 | |
| The credible #2 Western humanoid — NASA-pedigree hardware + Google DeepMind's brain + the Mercedes/GXO/Jabil go-to-market — but priced for a labor-replacement future it has not yet shipped, into a market where Unitree is collapsing the price floor from below. | — | 8 | |
| The category's pace-setter and best-funded vertically-integrated humanoid bet — but the $39B mark prices a fleet that, on the public record, is still a pilot; WATCHING for the BMW-pilot-to-multi-customer-scale proof that converts the story into a tradeable S-1. | — | 1 | |
| The strongest research bench in robot learning, priced like a product company while still being a research project — own the index (NVIDIA/data), not this single ticket, until a paying-fleet number or a π1 zero-shot result exists. | — | 8 | |
| World-class robotic hands and the #3 humanoid patent estate on Earth, attached to a balance sheet that already had to sell its best asset (the Apptronik stake) to make payroll — this is an IP carcass walking, far likelier to be acqui-hired or stripped for patents than to IPO independently. | — | 8 | |
| The leading robot-foundation-model pure-play by capital and strategic syndicate, but its $14B mark prices a software-layer monopoly that the Foxconn/Blackwell line has yet to prove and that Physical Intelligence + NVIDIA's own GR00T are both armed to contest. | — | 8 | |
| The only profitable humanoid maker and #1 by volume — but the float is a Shanghai-only embodied-AI bet whose revenue is 74% lab demos, not labor replacement, and whose Western TAM is being legislated to zero. | — | 8 |