At a pivotal moment as AI technology evolves from perception and generative models to "Physical AI," 51World (06651), which began its IPO subscription on December 18, has captured the Hong Kong stock market's attention as the "first Physical AI stock." As a leading Chinese tech company in the Physical AI sector, 51World has long invested heavily in three key areas: 3D graphics, simulation, and artificial intelligence. It has launched three core businesses: 51Aes (digital twin platform), 51Sim (synthetic data and simulation platform), and 51Earth (digital Earth platform). Against the backdrop of AI industry expansion and the rise of Physical AI, this company—backed by high-profile shareholders and leading technology—is poised for both growth and valuation opportunities.
A key highlight is 51World’s positioning in the trillion-dollar Physical AI sector. Global AI leader Jensen Huang has predicted that the next wave of AI will be Physical AI, with a market size estimated to be dozens of times larger than content AI, making it the core driver of the next industrial boom. Currently, 51World has built a strong competitive moat through long-term technological accumulation, successful case studies, and scalable expansion. The company uses digital twin technology as its foundation, bridging the virtual and real worlds to provide infrastructure-level empowerment across industries.
Another critical factor is the substantial recognition 51World has gained in capital markets. It is the sole direct investment of Moore Threads, dubbed "China’s Nvidia" and this year’s hottest GPU-related stock. The two companies have formed a deeply synergistic business ecosystem. On one hand, 51World’s full-stack Physical AI solutions provide crucial real-world applications and commercialization channels for Moore Threads’ advanced GPU chips, with both parties collaborating to build Physical AI infrastructure. On the other hand, 51World’s vast repository of scenario data will feed back into Moore Threads’ chip R&D and algorithm optimization, creating a powerful ecosystem synergy. This deep integration not only ensures stable technological collaboration but also opens vast valuation potential, keeping 51World aligned with the growth trajectory of China’s GPU unicorn.
Beyond Moore Threads, 51World’s investor lineup includes industry leaders like SenseTime and prominent investors such as Ge Weidong and Leung Pak-tao. These investors favor long-term growth opportunities, underscoring their confidence in 51World’s strong fundamentals, technological prowess, and future commercial value. This confidence is further supported by the company’s solid financial performance. Revenue grew from RMB 170 million in 2022 to RMB 287 million in 2024, achieving a 30.02% CAGR. Even more impressively, in the first half of 2025, revenue surged 62% YoY to approximately RMB 54 million, signaling accelerating growth. This performance validates its business model and high market demand despite macroeconomic challenges.
In summary, 51World’s IPO positions it as the "first Physical AI stock," securing a high ground in industry development with scarcity and first-mover advantages. It offers investors a rare opportunity to tap into the booming Physical AI sector. As the sector’s potential unfolds and technological value accelerates, the company is poised for growth-valuation synergy, emerging as a prime candidate in the next wave of AI innovation.
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