Physical AI has entered the scale validation phase, with scenarios and data becoming points of interest for investors.

The initial public offering of Yushu Technology, a leader in embodied intelligence, marks a new phase for the physical artificial intelligence sector as it enters industrial validation and publicly priced capital markets. In this process, Shoucheng Holdings, as the core strategic investor in Yushu Technology, is set to reap the benefits of its earlier investments while jointly establishing a 3.5 billion yuan cutting-edge science and technology fund specialized in the emerging future industry to heavily invest in the entire physical AI industry chain. According to incomplete statistics, over the past 18 months, more than 10 billion US dollars have flowed into the physical AI sector; in August alone, companies such as Feijiesi, Xihu Smart, and Huilun Technology have collectively raised hundreds of millions in financing. Notably, 50% of financing in the physical AI industry in 2025 is still directed towards early-stage startups, while the proportion of first-round financing will drop to 8% in 2026, with 92% of funds concentrated on leading enterprises that have secured orders and developed mature products. Kang Yu, manager of the capital markets department at Shoucheng Holdings, told the Securities Times that currently, the physical AI industry is not lacking in funds; what is truly scarce are orders, offline scenarios, and real interaction data.