Unitree hits $66B IPO valuation, then loses nearly half in a week

Unitree, China's leading robot maker, was valued at $66 billion in its IPO on China's NASDAQ equivalent, then lost nearly half that value within a week. The sellooff highlights the gap between robots that perform in demos and robots that generate durable revenue. Recent advances in robotics foundation models show real capability, but markets are pricing in how far that is from commercial-scale output.