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candidate
Boston Dynamics波士顿动力
Humanoid and mobile robot platforms: Atlas, the Spot quadruped and the Stretch case-handling robot.
人形与移动机器人平台——Atlas 人形、Spot 四足与 Stretch 拆箱搬运机器人。
- PROVISIONAL — NOT VERIFIED待定条目 — 未经核验
This record is provisional.本条目为待定状态。 It hasn't been through the checks the rest of the map has, so it carries no source references or diligence score, and the index won't hold it. The blockers below say what would have to change. 它还没走完地图其余部分都走过的核验流程，所以没有来源引用，也没有尽调评分， 指数不会持有它。下面的阻塞项写着要先解决什么。
What it doesHumanoid and mobile robot platforms: Atlas, the Spot quadruped and the Stretch case-handling robot.
在干什么人形与移动机器人平台——Atlas 人形、Spot 四足与 Stretch 拆箱搬运机器人。
Why it mattersA 95-node robotics landscape that does not contain Boston Dynamics is a landscape a reader will question, so the omission should be on the record rather than left to inference. It is the reference platform for the entire Western humanoid comp set, and it is the counterparty on the highest-profile named actuator relationship in that stack. Hyundai Mobis agreed at CES 2026 to develop actuators for the next-generation Atlas, and Mobis states actuators are more than 60% of humanoid material cost.
为何重要一份 95 节点的机器人图谱里没有波士顿动力，读者一定会问，所以这个缺席应当写进记录，而不是留给读者去推断。它是整个西方人形对标组的参照平台，也是该体系中最高调的执行器供应关系的交易对手——现代摩比斯在 CES 2026 宣布为下一代 Atlas 开发执行器，摩比斯称执行器占人形物料成本 60% 以上。
Caveat
Why it was probably excluded, and why that was defensible: it is not separately investable. It is a wholly-or-nearly-wholly-owned Hyundai Motor Group subsidiary with no separate listing, no separately disclosed revenue, and no disclosed loss.
Any exposure runs through 005380.KS, where robotics is immaterial against autos. That is the same objection the file raises against quoting NVDA as a robotics comp.
Two things have changed and are worth watching rather than acting on. First, SoftBank triggered a put option because Boston Dynamics had not listed within five years of the 2021 deal, and Korean press reads the buyout as clearing the path to an IPO; that is press reading of intent, not an announced IPO.
Second, Hyundai has been reported as planning to deploy about 25,000 Atlas units from 2028 at a target price below USD 320,000, a plan, not an order, and an order would not be revenue either. As of the research cut the SoftBank purchase was agreed, not confirmed closed.
风险提示
当初排除它的可能原因，以及这一判断何以站得住：它不可单独投资。它是现代汽车集团全资或接近全资的子公司，没有独立上市、没有单独披露的收入、也没有披露的亏损。
任何敞口都须经由 005380.KS，而机器人相对汽车主业并不重大——这正是本文件反对以 NVDA 作机器人对标的同一条理由。有两点变化，值得观察，但不足以据此行动。
其一，软银因波士顿动力未在 2021 年交易后五年内上市而行使了回售权，韩国媒体将这笔收购解读为为 IPO 扫清障碍——这是媒体对意图的解读，不是已公告的 IPO。其二，有报道称现代计划自 2028 年起部署约 2.5 万台 Atlas，目标单价低于 32 万美元；那是计划，不是订单，即便是订单也不是收入。
截至研究截点，收购软银股权为已达成协议，未确认交割完成。
Bottlenecks瓶颈 P13 Dexterous manipulation灵巧操作 · P14 Actuators, reducers, encoders执行器、减速器与编码器 · P17 Integration, uptime, service集成、在线率与服务
- Proposed for
- factories
- Class
- private
- Country
- US
- HQ
- Waltham, Massachusetts, US
- Ticker confidence
- confirmed
- Systems
- muscle · body
- Evidence
- [object Object] · [object Object] · [object Object] · [object Object] · [object Object]
- Proposed by
- muscle-heart-body-work
- Confidence
- 88
- Translated fields
- what_it_does_zh · why_it_matters_zh · caveat_zh