AI’s expansion into the physical world is reshaping what investors choose to back
Updated
February 12, 2026 1:21 PM
Exterior view of the Exchange Square in Central, Hong Kong. PHOTO: UNSPLASH
Artificial intelligence is often discussed in terms of large models trained in distant data centres. Less visible, but increasingly consequential, is the layer of computing that enables machines to interpret and respond to the physical world in real-time. As AI systems move from abstract software into vehicles, cameras and factory equipment, the chips that power on-device decision-making are becoming strategic assets in their own right.
It is within this shift that Axera, a Shanghai-based semiconductor company, began trading on the Hong Kong Stock Exchange on February 10 under the ticker symbol 00600.HK. The company priced its shares at HK$28.2, debuting with a market capitalization of approximately HK$16.6 billion. Its listing marks the first time a Chinese company focused primarily on AI perception and edge inference chips has gone public in the city — a milestone that underscores growing investor interest in the hardware layer of artificial intelligence.
The listing comes at a time when demand for flexible, on-device intelligence is expanding. As manufacturers, automakers and infrastructure operators integrate AI into physical systems, the need for specialized processors capable of handling visual and sensor data efficiently has grown. At the same time, China’s domestic semiconductor industry has faced increasing pressure to build local capabilities across the chip value chain. Companies such as Axera sit at the intersection of these dynamics, serving both commercial markets and broader industrial policy priorities.
For Hong Kong, the debut adds to a cohort of technology companies seeking public capital to scale hardware-intensive businesses. Unlike software firms, semiconductor designers operate in a capital-intensive environment shaped by supply chains, fabrication partnerships and rapid product cycles. Their presence on the exchange reflects a maturing investor appetite for AI infrastructure, not just consumer-facing applications.
Axera’s early backer, Qiming Venture Partners, led the company’s pre-A financing round in 2020 and continued to participate in subsequent rounds. Prior to the IPO, it held more than 6 percent of the company, making it the second-largest institutional investor. The public offering provides liquidity for early investors and new funding for a company operating in a highly competitive and technologically demanding sector.
Axera’s market debut does not resolve the competitive challenges of the semiconductor industry, where innovation cycles are short and global competition is intense. But it does signal that investors are placing tangible value on the hardware, enabling AI’s expansion beyond the cloud. In that sense, the listing represents more than a corporate milestone; it reflects a broader transition in how artificial intelligence is built, deployed and financed — moving steadily from software abstraction toward the silicon that makes real-world autonomy possible.
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CES 2026 and the move toward wearable robots you don’t wear all day.
Updated
January 28, 2026 5:53 PM
The π6 exoskeleton from VIGX. PHOTO: VIGX
CES 2026 highlighted how robotics is taking many different forms. VIGX, a wearable robotics company, used the event to introduce the π6, a portable exoskeleton robot designed to be carried and worn only when needed. Unveiled in Las Vegas, the device reflects a broader shift at CES toward robotics that move with people rather than staying fixed in industrial or clinical settings.
Exoskeletons have existed for years, most commonly in controlled environments such as factories, rehabilitation facilities and specialised research settings. In these contexts, they have tended to be large, fixed systems intended for long sessions of supervised use rather than something a person could deploy on their own.
Against that backdrop, the π6 explores a more personal and flexible approach to assistance. Instead of treating an exoskeleton as permanent equipment, it is designed to be something users carry with them and wear only when a task or situation calls for extra support.
The π6 weighs 1.9 kilograms and folds down to a size that fits into a bag. When worn, it sits around the waist and legs, providing mechanical assistance during activities such as walking, climbing or extended movement. Rather than altering how people move, the system adds controlled rotational force at key joints to reduce physical strain over time.
According to the company, the device delivers up to 800 watts of peak power and 16 Nm of rotational force. In practical terms, this means the system is designed to help users sustain effort for longer periods, especially during physically demanding activities_ by easing the body's load rather than pushing it beyond normal limits.
The π6 is designed to support users weighing between 45 kilograms and 120 kilograms and is intended for intermittent use. This reinforces its role as a wearable companion — something taken out when needed and set aside when not — rather than a device meant to be worn continuously.
Another aspect of the system is how it responds to different environments. Using onboard sensors and processing, the exoskeleton can detect changes such as slopes or uneven ground and adjust the level of assistance accordingly. This reduces the need for manual adjustments and helps maintain a consistent walking experience across varied terrain, with software fine-tuning how assistance is applied rather than directing movement itself.
The hardware design follows a similar logic. The power belt contains a detachable battery, allowing users to remove or swap it without handling the entire system. This keeps the wearable components lighter and makes the exoskeleton easier to transport. The battery can also be used as a general power source for small electronic devices, adding a layer of practicality beyond the exoskeleton’s core function.
VIGX frames its work around accessibility rather than industrial automation. “To empower ordinary people,” said founder Bob Yu, explaining why the company chose to focus on exoskeleton robotics. “VIGX is dedicated to expanding the physical limits of humans, enabling deeper outdoor adventures, making running and cycling easier and more enjoyable and allowing people to sustain their outdoor pursuits regardless of age.”
Placed within the wider context of CES, the π6 sits alongside a growing number of portable robots and wearable systems that prioritise convenience, mobility and personal use. By reducing the physical and practical barriers to wearing an exoskeleton, VIGX is testing whether assistive robotics can move beyond niche environments and into everyday life. If that experiment succeeds, wearable robots may become less about dramatic augmentation and more about quiet support — present when needed and easy to put away when not.