Nomura has issued a research report stating that the technological evolution of the robotics industry is replicating the development trajectory of large language models (LLMs), and the arrival of its landmark "ChatGPT moment" may come faster than the market expects.
The bank is bullish on manufacturing companies with rapid iteration capabilities and extremely strong cost control, such as Unitree Robotics (688836.SH), mainstream automakers, and key component suppliers.
Nomura cited scientists' views to explain that robot training is expected to go through the same three evolutionary stages as large models — from initial broad generalization learning reliant on massive data, to refined fine-tuning for specific application scenarios, and finally to reinforcement learning that continuously self-optimizes through trial-and-error mechanisms.
Based on the trend that cutting-edge large models perform better when tested on robots, Nomura predicts that the new-generation models to be intensively released between December this year and January next year are expected to become the first catalyst.
Nomura added that as leading manufacturers like Unitree Robotics continue to scale up production, they are expected to outsource more components to external suppliers in the future.
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