Theme
Physical AI
Robotics, autonomy, manipulators - AI in the physical world.
0.275avg corr (252d)
6stocks
Weak co-movementStocks · key Fib levels
- AMZN$259.30last$232.00fib+11.8%vs fibanchored by Anthropic · Apple · Databricks · Pinterest · Stripe · Netflix · Salesforce
- 2024-03 - Anthropic investment closed at $4B; Claude pledged to AWS as primary cloud + Trainium as primary training chip.
- 2024-11 - Anthropic round topped up to $8B total; multi-year Trainium2 capacity commitment disclosed.
- 2025-01 - Project Rainier announced: ~400k Trainium2 chips for Anthropic, sited in Indiana (1.3GW campus).
- 2025-Q3 - AWS run-rate crossed $115B; Trainium2 GA at re:Invent 2024 with Apple, Databricks, Anthropic as named customers.
- 2026 - Capex guide ~$105B (vs ~$83B in 2025), substantially all to AI infra; Mississippi + Indiana hyperscale builds in progress.
- GOOGL$284.78last$272.00fib+4.7%vs fibanchored by Anthropic (TPU) · Apple (Gemini in Apple Intelligence) · Salesforce (GCP) · Workday (GCP) · Spotify (GCP)
- 2024 Q4 - Anthropic expands TPU commitment to reportedly $11B+ over multi-year term (Bloomberg)
- 2024 Q4 - Apple integrates Gemini as optional Apple Intelligence model alongside ChatGPT (announced WWDC 2024, rollout 2025)
- 2025 - Waymo crosses 150k paid rides/week run-rate across SF/Phoenix/LA/Austin
- 2025 - TPU v6 'Trillium' GA on Google Cloud; v7 'Ironwood' announced for 2026
- 2025 Q3 - Google Cloud signs multi-billion Salesforce, Workday infra deals
- 2026 Q1 - DOJ Search remedies trial verdict pending; Chrome divestiture and default-search payment ban remain on table
- ISRG$452.80last$46.00fib+884.3%vs fibanchored by HCA Healthcare · Cleveland Clinic · Mayo Clinic · Kaiser Permanente · Tenet Healthcare
- 2026 Q1: da Vinci 5 placements ramped to 174 systems (vs 0 a year prior); worldwide procedures +17% YoY
- 2025 Q4: 10,000th da Vinci system milestone; installed base passed 9,902 globally
- 2025: Ion lung biopsy procedures crossed 100k cumulative; ~150 hospitals added
- 2024 Mar: FDA clearance for da Vinci 5 (next-gen platform, force feedback, integrated digital tools)
- 2024: Japan PMDA approval for SP (single-port) - opens urology/colorectal expansion
- 2023: EU MDR re-certification completed for Xi/X platforms - preserves EU placement cadence
- OUST$34.80last- fibanchored by Komatsu · NVIDIA · Serve Robotics · Kodiak Robotics · May Mobility · US DOT smart-infrastructure pilots
- 2023-02: closed all-stock merger with Velodyne Lidar, consolidating digital + rotating lidar IP
- 2023-11: REV7 digital lidar family launched (OS0/OS1/OS2 + DF solid-state) - single CMOS chip architecture
- 2024: multi-year supply agreement with Komatsu for mining autonomy stack
- 2024: NVIDIA Isaac / Holoscan partnership integrating REV7 into robotics reference platforms
- 2025: Serve Robotics ($SERV) sidewalk-delivery fleet standardizes on Ouster OS-series
- 2025: smart-city deployments live with Velodyne Intelligent Infrastructure Solutions (IIS) in Chattanooga and US-DOT pilots
- SYM$36.82last- fibanchored by Walmart · Target · Albertsons · C&S Wholesale Grocers · GreenBox Systems (SoftBank JV)
- 2022-06: $WMT master agreement, all 42 regional DCs (~$11B initial value)
- 2023-07: $TGT phased deployment across regional DCs
- 2023-09: Albertsons ($ACI) multi-site deployment
- 2024-07: GreenBox Systems JV with $SFTBY SoftBank announced; $7.5B initial capacity commitment over 6 years
- 2025-01: $WMT Mexico expansion adds incremental sites
- 2025-03: Walmex deployment confirmed; backlog reported at $22B+
- 2025-09: FY23/FY24 financial restatement disclosed (revenue recognition timing on system-deployment contracts)
- TSLA$358.22last$351.00fib+2.1%vs fibanchored by PepsiCo · Sysco · Intersect Power · Hertz (legacy) · undisclosed utility offtakers
- 2026 Q1: Energy storage deployed 4.1 GWh (+157% YoY); Lathrop + Shanghai Megapack factories at scale
- 2025 Q4: FSD v13 supervised release; unsupervised internal testing begins Austin
- 2025: Optimus Gen-2 prototypes assembling at Fremont pilot line; targeted internal deployment 2026
- 2024 Q4: Dojo D1 wafer-scale compute online; D2 tape-out announced
- 2024: Cybertruck production ramp at Giga Texas; Semi pilot fleet expansion with PepsiCo + Sysco
- 2023: 4680 cell in-house production crosses break-even cost vs cell suppliers
- Multi-year Megapack supply agreements: Intersect Power (15.6 GWh), undisclosed utility offtakes
Co-movement matrix (252d)
AMZN | GOOGL | ISRG | OUST | SYM | TSLA | |
|---|---|---|---|---|---|---|
| AMZN | · | 0.63 | 0.28 | 0.30 | 0.18 | 0.30 |
| GOOGL | 0.63 | · | 0.26 | 0.29 | 0.21 | 0.32 |
| ISRG | 0.28 | 0.26 | · | 0.01 | 0.08 | 0.10 |
| OUST | 0.30 | 0.29 | 0.01 | · | 0.36 | 0.46 |
| SYM | 0.18 | 0.21 | 0.08 | 0.36 | · | 0.33 |
| TSLA | 0.30 | 0.32 | 0.10 | 0.46 | 0.33 | · |
Related research
- 5 min readUber (UBER) Q3: bookings up 20%, adjusted EPS $0.88, long-term debt $15.7B
- 5 min readTalen Energy (TLN) Q3: EBITDA up 84%, the buyback paid with future capacity is the story
- 5 min readAstera Labs (ALAB) Q3: revenue up 154% to $585M, Scorpio is now the biggest product
- 9 min readNVIDIA (NVDA): what it does, how it makes money, and why the AI build-out runs on it
Frequently asked questions
- What are the top stocks in the Physical AI theme?
- QuantAbundance's Physical AI theme tracks 6 stocks ranked editorially: AMZN, GOOGL, ISRG, OUST, SYM, TSLA.
- Do Physical AI stocks move together?
- The Physical AI theme has a 252-day average correlation of 0.27 across its members - weak co-movement. Editorial themes are narrative groupings, not capital-flow validated; tradability follows correlation, not the story.