From high tide to low tide: embodied AI reshaped by capital

In the first half of 2026, financing in the embodied AI sector exceeded 300 deals totaling about 93.5 billion yuan, a year-on-year increase of more than 130%. However, the Embodied AI Development Report (2026) published by the China Academy of Information and Communications Technology and others shows that many robots operate fewer than 10 days per month on average. In the third quarter, financing fell to at least 185 deals worth about 33.3 billion yuan. Investors shifted their focus to delivery volumes, repeat purchases, and actual operating hours in real-world scenarios. More than 20 robotics companies went bankrupt, entered liquidation or restructuring, or suspended operations during the year. Capital concentrated in leading players with orders and industry recognition, and deployment scenarios narrowed to production-line loading and unloading, warehouse sorting, and supermarket fulfillment.