摩根士丹利更新报告点评北京第二届世界人形机器人运动会。中国机器人天工Ultra以8.64秒赢得大型组百米决赛，快于博尔特9.58秒的世界纪录，也远优于其去年21.5秒的成绩，主要得益于减轻躯干与腰部质量、升级电机与控制栈。本届新增的灵巧手挑战赛设电动工具装配、称粉、砌砖、拧钉、开盖、拆箱、镊子夹豆、线缆连接八项任务，直接对应制造与仓储自动化的增值环节，同时暴露头部厂商与其余队伍的差距，凸显莫拉维克悖论。2026年上半年中国厂商出货占全球超97%，该市场同比增长272%，中国客户占需求85%以上；中国工业团队将2026年出货预测由2.8万台上调至5万台，预计2030年达44.6万台。宇树科技上市首日涨约460%，估值近500亿美元，此后回落约45%至1900亿元人民币。
China's 2nd annual World Humanoid Robot Games in Beijing showed the remarkable rate of change in humanoid development across locomotion, speed/power, fine motor skills and autonomy, raising the question of whether China's physical AI lead over the US is widening and when the US will have its first Robot Games. A Chinese humanoid just ran the fastest 100 meters in history: Tiangong Ultra won the large-size 100-meter final in 8.64 seconds, beating both Usain Bolt's 9.58-second world record and its own winning time of 21.5 seconds from last year's Games, a gain achieved by reducing mass in the torso and waist and upgrading the robot's motors and control stack. The new Dexterous Hand Challenge featured eight events (power-tool assembly, powder weighing, bricklaying, nail fastening, lid opening, box unpacking, bean-picking with tweezers, and cable connections), which map directly onto value-add tasks in manufacturing and warehouse automation and exposed the gap between leaders and the rest