Aggregator

Inside China's Humanoid Robot Boom: What BofA Analysts Saw On The Ground In Beijing

Zero Rss
1 month 3 weeks ago
Inside China's Humanoid Robot Boom: What BofA Analysts Saw On The Ground In Beijing

China put its humanoid robotics industry on full display last week with a series of technological, commercial, and capital-markets milestones. Beijing first hosted the 2026 World Robot Conference, followed by the five-day World Humanoid Robot Games, while Unitree capped the week with a blockbuster IPO.

Bank of America analyst Ming Hsun Lee attended last week's 2026 World Robot Conference and provided feedback to clients, noting that China's humanoid-robot industry has shifted from research demonstrations to commercial deployment, with logistics emerging as the first real-world use case.

Welcome to China, and welcome to the future!

Maybe we will soon witness humanoid robot formation in China's military parade.@WHRGFUN ©️@boosterobotics pic.twitter.com/dVqkVRGghu

— Shen Shiwei 沈诗伟 (@shen_shiwei) August 23, 2026

Lee said the WRC featured more than 300 exhibitors spanning humanoid robots, AI models, and critical components. Unlike last year's conference, which focused mainly on research and industrial applications, this year's conference focused on real-world uses for these robots, including logistics, retail, services, and household tasks.

He pointed to one example in which humanoids far exceed human capabilities.

X Square Robot demonstrated a dual-arm system capable of sorting more than 1,800 parcels per hour, far faster than the 1,200 to 1,400 parcels typically handled by a human worker. He also noted that Galaxea AI reported a success rate above 95% for its retail sorting and delivery system.

Other robotics startups featured at the event included Unitree, Galbot, and Spirit AI, which demonstrated robots folding clothes, preparing meals, sorting household objects, and assembling supermarket orders.

Dexterous hands displayed at the conference offered between 6 and 37 degrees of freedom, with these components having completed approximately 1 million operating cycles.

"Tactile sensors have become a must-have for dexterous hands, which account for 20-25% of the BOM cost of a dexterous hand. On the cost front, 6D force & torque sensor/tactile sensor/planetary roller screw are among the key components with fastest cost reduction over the past year, thanks to scale effect and improved manufacturing process. This could support a 45% cost reduction of humanoid robots in 2026-30E, according to our forecast," the analyst said.

Here's what Lee told clients:

Wider application scenario for embodied AI

We attended the 2026 WRC, held in Beijing from 19-23 August. The conference featured more than 300 exhibitors spanning humanoid robots and key component manufacturers. Compared with WRC 2025, where applications were primarily in R&D/industrial settings, WRC 2026 showcased a broader range of embodied AI use cases, extending into logistics, retail, services, and household scenarios. Among these, logistics emerged as one of the fastest-commercializing applications. Notably, X Square Robot demonstrated a parcel-sorting capacity of >1,800 parcels per hour using dual robotic arms, higher than the speed of human beings (1,200-1,400 parcels per hour). Many robotics companies (such as Galbot, Galaxea AI, Spirit AI, X Square Robot etc.) also demonstrated long-duration tasks in retail and household scenarios, such as folding clothes, preparing meals, and picking supermarket orders.

Real-world data crucial to model capability

World action models (WAM) are increasingly adopted by embodied AI companies, which enables higher generalization capability and performs well in long-period tasks. Leading robotics companies are seeking to develop a unified base model that can control different body forms (wheeled, bipedal etc.). On the data front, the importance of high-quality real-world data has become a consensus among embodied AI developers. Egocentric data is increasingly used in pre-training, thanks to its cheaper cost and larger scale, while high-quality real-world robot data (teleoperation/ failure-recovery trajectory) are used in post-training. Currently, data availability remains the key bottleneck for embodied AI developers. We estimate a general-purpose embodied AI model with high generalization capability would require 10mn-100mn hours of real-world data. Leading robotics companies now target to collect >1mn hours of real-world data by end-2026. Third-party data service providers (e.g. Lightwheel) also emerge to provide Egocentric/UMI data and simulation platform for model training.

Component: fast cost reduction continues

Dexterous hand companies in WRC demonstrated products with DoF ranging from 6 to 37. In general, high-DoF dexterous hands are preferred for R&D and high-precision manipulation tasks, while 6-DoF hands and grippers are widely used in manufacturing scenarios. Technology routes for dexterous hand haven't yet converged, with tendon-driven/bar linkage/direct drive solutions co-existing in the market. Leading dexterous hand companies can now achieve a life span of nearly 1mn cycles. Tactile sensors have become a must-have for dexterous hands, which account for 20-25% of a dexterous hand's BOM cost. On the cost front, 6D force & torque sensor/tactile sensor/planetary roller screw are among the key components with fastest cost reduction over the past year, thanks to scale effect and improved manufacturing process. This could support a 45% cost reduction of humanoid robots in 2026-30E, according to our forecast.

The bigger picture is that China appears to hold an early lead over the US in the humanoid robotics race, supported by control over both critical materials and downstream manufacturing. Beijing dominates rare-earth supply chains and much of the production capacity for critical components, including permanent magnets, motors, actuators, and sensors. That vertically integrated advantage could allow Chinese manufacturers to reduce costs and scale humanoid production faster than any US company. 

Last week, JPMorgan analysts toured Tesla's Fremont humanoid robotics factory and read more about what they uncovered (see here). 

Tyler Durden Mon, 08/24/2026 - 20:30
Tyler Durden

Michigan's Energy Abundance Is On The Ballot

Zero Rss
1 month 3 weeks ago
Michigan's Energy Abundance Is On The Ballot

Authored by Samantha Fillmore via RealClearEnergy,

It is indisputable that energy is the lifeblood of every civilization. We are reminded of that truth daily at the gas pumps and when it's time to recharge the latest iPhone. Another indisputable truth is that the availability and affordability of energy are as delicate as the fiber-optic cables that supply our homes with Wi-Fi.

We are living out that truth in real time between the ongoing war in the Middle East affecting the global flow of energy and the growing energy demands that accompany data center and AI proliferation. Tie that in with idealistic energy policy that results in intermittent and unreliable sources of power, and we are headed in the opposite direction of energy prosperity.

Without sound energy policy that is founded in the realities of science, we are barreling towards a reality where energy is less abundant and more expensive than it's ever been.

Essentially, we are on the precipice of slipping and falling into a version of America that is unrecognizable from the America that we grew up in. On the local, state, and federal levels of government, each poor and uneducated decision on energy policy will slowly turn our land of prosperity into something more akin to our European counterparts, complete with their sky-high energy prices.

This is a pivotal moment for our leaders to make the correct decisions to secure our future energy and prosperity. The future of energy is in abundance. It is paramount that we ensure our energy is affordable, reliable, and clean.

Residents of Michigan are currently at that pivotal point in deciding which direction they want their state energy policy to go in. The Congressional race for Michigan's 7th District between incumbent Tom Barrett (R) and William Lawrence (D) is a microcosm for this very important crossroads in energy policy.

In his Congressional tenure, Barrett has supported energy policy that allows the market to choose the best, most reliable, and most affordable energy sources, particularly through the initiative to "unleash American energy" in the big Beautiful Bill. Furthermore, he has recognized that the permitting process for U.S. LNG exports should be improved to expedite the process and that the Inflation Reduction Act has, "[F]ailed to meet our energy needs," by funneling hundreds of billions of dollars into clean energy projects that fail to produce energy when the wind doesn't blow, and the sun doesn't shine.

As Congressman for the Wolverine State, Barrett has been overt in his opposition to Michigan Democrats' "Extreme energy mandates," requiring electricity production to use 100% green energy.

In a February 2026 X post, Barrett said: "Policies have consequences, and Michigan Democrats' extreme energy mandates continue driving energy costs through the roof. Michigan families can't afford to keep paying the price," in response to news breaking that Michigan energy customers should expect another rate hike.

Staying on-brand, in a March 2026 X post, Barrett said: "While Michigan Democrats double down on their failed green energy mandates that are driving up utility bills, I'm fighting to increase consumer choice and unleash affordable, reliable energy that gives you and your family the stability you deserve," once again citing his goal to keep energy prosperity a reality for his home state.

Through the power of his actions and votes in the halls of Congress, and through his continued advocacy for Michigan energy abundance, by way of affordability and reliability, Tom Barrett understands the dire importance of the crossroads Michigan is at.

On the other hand, William Lawrence participated in "[D]esigning the Green New Deal," according to a November 2025 X post. Lawrence has said that in Congress he will, "[F]ight for investment to secure the climate we depend on." Furthermore, Lawrence was a co-founder of the Sunrise Movement, a climate group that claims, "[They] are the climate revolution," and demands a "transition away from all forms of fossil fuels as quickly as possible," along with "no new oil, gas, or coal projects."

The feeling that Lawrence is not interested in securing energy prosperity for the Wolverine State is palpable. Rather, it is evident that he is interested in pushing political ideology at the literal cost of Michiganders' electricity bills.

This is the duty and responsibility of our leaders to cultivate an environment to improve cities, grow and sustain a healthy population, incentivize business investments and technological developments, and all other elements of industry that once made Michigan an economic powerhouse in former decades. This requires energy. Abundant energy. Affordable energy that will be there at the flip of the switch when the sun is not shining, and the wind isn't blowing.

Energy is the lifeblood of every economy, and Michigan is no different. There are several issues to consider in all Congressional races; however, for people who are struggling to pay their energy bills, this issue may rise above the others.

Samantha Fillmore is the Senior State Government Relations Manager for Heartland Impact, the advocacy arm of The Heartland Institute, a 40-year-old public policy think tank based in Schaumburg, IL.

Tyler Durden Mon, 08/24/2026 - 20:05
Tyler Durden

Your Tax Dollars At Work: San Fran Shelter Workers Accused Of Hiding Cop Shooter

Zero Rss
1 month 3 weeks ago
Your Tax Dollars At Work: San Fran Shelter Workers Accused Of Hiding Cop Shooter

Two employees at a San Francisco homeless shelter funded through city contracts have been arrested for allegedly helping a suspected cop shooter hide from police, according to the New York Post.

The case stems from a May 31 confrontation near the Bay Bridge involving 36-year-old Norris Reed III. Authorities say what began as an attempted traffic stop escalated into a pursuit, ending when Reed’s vehicle struck a concrete barrier. Police allege Reed then fired at officers, wounding Officer Brittney Taylor in the leg, and escaped on foot.

The Post writes that the search eventually led officers to the Bayshore Navigation Center, where Reed was located roughly two hours after the shooting. Investigators now say two people working at the facility took steps to make finding him more difficult.

Oliver Barcenas, 36, allegedly supplied Reed with a change of clothes, which police say was intended to alter his appearance. Erika Porter, 45, is accused of giving investigators misleading information while officers were trying to locate Reed inside the center.

Reed was ultimately captured, and the investigation into what happened at the shelter continued. Nearly three months later, on Aug. 20, police arrested Barcenas and Porter over their alleged roles in concealing the wanted man.

Police Chief Derrick Lew condemned the alleged actions, saying there was no justification for helping an armed fugitive escape capture after an officer had been wounded.

Barcenas also has a criminal record of his own. He previously received a seven-year federal prison sentence following a conviction for illegally possessing a firearm and ammunition as a convicted felon.

The Bayshore Navigation Center is run by the nonprofit Five Keys with funding provided through San Francisco city contracts. It has space for as many as 128 homeless residents and offers case management and housing-related assistance intended to help people move into permanent housing.

Tyler Durden Mon, 08/24/2026 - 19:40
Tyler Durden

"Operation Economic Outcast" Begins: Bessent Warns Countries Helping Iran Face Expulsion From Dollar System

Zero Rss
1 month 3 weeks ago
"Operation Economic Outcast" Begins: Bessent Warns Countries Helping Iran Face Expulsion From Dollar System Summary
  • Bessent Unveils "Operation Economic Outcast" Against Iran 
  • Pakistan enters diplomatic push: Pakistan's army chief reportedly traveled to Tehran after Trump urged him to help reopen Iran talks.
  • Iran threatens new tanker action: Tehran blacklisted 45 vessels and warned of further Hormuz attacks.
  • US readies sweeping sanctions: Bessent is preparing a sweeping economic offensive targeting Iran and its trading partners.
  • Rial collapses: Iran's currency hit a record low as inflation and economic pressures intensify.
  • Hormuz leverage in question: Washington & Western sources claim US-supervised shipping through the Oman corridor has surged 400%.
//--> //--> US x Iran diplomatic meeting by August 31, 2026?
Yes 2% · No 98%
View full market & trade on Polymarket

*  *  *

Bessent Talks 

Treasury Secretary Scott Bessent will hold a press conference at 1 p.m. to detail the latest sanctions plan against Iran, which he described to CNBC earlier as the greatest campaign of "coordinated economic isolation in the history of the world."

Summary: US Treasury Sanctions Nearly 60 Iran-Linked Entities, Individuals And Vessels Across Nuclear, Missile, Cyber And Oil Networks:

  • Five sectors face potential secondary sanctions: digital assets, technology, gold, aviation and shipping.
  • Measures target brokerage networks and shadow-fleet vessels operating across the UAE, Hong Kong, China, Singapore, Switzerland and Europe.
  • Bessent warns that countries failing to take action "will be removed from the US dollar system."

Bessent launched the Trump administration's long-awaited "Operation Economic Outcast," unveiling sweeping sanctions designed to sever Iran from the global financial dollar system and punish any foreign government or entity that continues facilitating Tehran's trade.

The first wave of sanctions targets nearly 60 Iran-linked entities, individuals and vessels connected to the regime's nuclear, missile, cyber and oil networks.

The measures span a global web of brokerage companies, financial intermediaries and shadow-fleet vessels operating across China, Hong Kong, the United Arab Emirates, Singapore, Switzerland and Europe.

"No one is above the reach of US sanctions," Bessent warned during the press conference.

Bessent made clear that Trump's campaign extends well beyond Iran. Foreign companies dealing with Tehran now face an explicit choice: sever those ties or risk losing access to the US financial system.

Bessent stopped just short of naming countries such as China...

"If others don't act, Treasury will unilaterally act," he said, adding that Washington "expects action" from other nations.

Bessent added, "To those who enable Iran, don't test US resolve."

The obvious pressure point here is China, which remains the largest buyer of Iranian crude. Washington has previously sanctioned independent Chinese refiners and trading companies.

Live

Trump asked Pakistan to Seek Diplomatic Reopening With Iran; Tehran Threatens More Hormuz Attacks

Just hours before the expected Bessent presser where he's expected to threaten any countries doing business with Iran with severe secondar sanctions (while it remains clear major power like China and Russia won't readily comply), Iran says it is prepared to attack more foreign tankers in the Strait of Hormuz. The Houthis are in the meantime targeting more Saudi vessels in the Red Sea region.

Tehran announced it has blacklisted 45 tankers for violating its rules to cross Hormuz, while underscoring its intent to take action against future transits and any vessels transferring loads with them. It is demanding 'fees' under the Oman-brokered management plan, which Washington has balked at. This comes as the US threatens Iran with "the toughest sanctions in history".

Iranian response ahead of Bessent presser:

Also being reported by Monday late morning is that Pakistan's army chief, Field Marshal Asim Munir, held a phone call with President Trump last week wherein the US leader reportedly asked for negotiations with Iran to be opened back up.

Munir has newly arrived in Tehran for talks with Iranian officials, according Tasnim news agency, in what's clearly ongoing shuttle diplomacy (very indirect, it seems)... amid hopes that future talks could be salvaged.

Big Bessent Iran Presser Set for 2 pm

In the coming hours, the Trump administration is expected to unveil a sweeping campaign to economically isolate Iran and its trading partners, with China likely the primary target. The escalation is designed to force Tehran back to the negotiating table, as its only leverage - the Strait of Hormuz - appears to be quickly eroding. Commercial ships are now transiting the newly opened, US military-supervised shipping corridor off Oman, raising the possibility that Iran has partially lost control of the critical waterway.

Treasury Secretary Scott Bessent told CNBC that he would hold a press conference on Monday to "talk about exactly what we're going to do" regarding an economic war against Tehran.

"Economic pressure means that we are going to all of our allies, and this is going to be the greatest coordinated economic isolation in the history of the world, and we are going to them and saying, 'You are either with us or against us,'" Bessent said.

Bessent Claims 'End Game' - Tehran Differs

Late Sunday, Bessent wrote on X: "We are now entering the endgame. At dawn begins an economic D-Day, the single greatest financial offensive ever marshaled against an adversary."

"President Trump has dismantled Iran's military capabilities, destroyed nearly 100 percent of its military factories, and buried its nuclear program," Bessent continued.

He noted, "The Islamic Republic has subsisted by dressing extortion as security guarantees. It has drawn strength from a calculus that regards Iranian retaliation as certain and American enforcement as negotiable. Under President Trump, that era is over. And those who fear the danger of defying Tehran ought not to discount the cost of testing Washington."

President Trump has dismantled Iran’s military capabilities, destroyed nearly 100 percent of its military factories, and buried its nuclear program.

We are now entering the endgame. At dawn begins an economic D-Day — the single greatest financial offensive ever marshaled against…

— Treasury Secretary Scott Bessent (@SecScottBessent) August 23, 2026 Rial Record Low

In markets, Iran's currency tumbled to a record low. The rial dropped to about 2.02 million per US dollar on the open market (bonbast.com), compared with the central bank's official rate of roughly 1.5 million.

Even before the US and Israel operation to neuter Iran's offensive capabilities on Feb. 28, the rial had been under pressure, coupled with persistent double-digit inflation and economic turmoil. Economic conditions have worsened since the US Navy's blockade of the Strait of Hormuz disrupted trade and government revenue. 

The economic shock is increasingly visible across household prices. Rice has jumped 60% in just a few months, while beef prices have soared by 150%. The International Monetary Fund forecasts a 5% contraction in Iran's economy. 

On Friday, Iranian President Masoud Pezeshkian warned of mounting economic pressure on Tehran, while cautioning against "humiliatingly" backing down "before the enemy."

Truth Social: Iran is Completely Collapsing

Trump posts this short statement on Monday, saying...

BUT... the US has fallen back to merely economic war and sanctions measures, after this:

Retired US four-star general coming to the same conclusion btw https://t.co/4Aphu9PoDL pic.twitter.com/jwyZqKnuRk

— dart (@poordart) August 24, 2026

"The war must come to an end at some point," Pezeshkian emphasized in a speech quoted by state media. "It is better that we demonstrate our strength and dignity today and tell the world that we have won and that we are ending the war."

Tehran's leverage over the critical waterway eroded last week as new data over the weekend showed that commercial transits through the US military-supervised Oman shipping corridor surged 400%. Trump has declared the Strait of Hormuz "an American territory." 

Tyler Durden Mon, 08/24/2026 - 19:28
Tyler Durden

zero rss