Sectors / Autonomous & Robotics

The physical
layer of AI.

Software AI is what people see; physical AI is where it has to land. R2A tracks 52 names across robotics, autonomous vehicles, eVTOL, surgical robotics, industrial automation, and the humanoid wave coming behind them.

52
Names covered
17
Buy calls
19
Hold
9
Private comps
Illustration: physical AI

The Thesis

Robotics has been a perpetual five-years-away story for the better part of two decades. What changed is the brain. Foundation models trained on the open internet can now drive a robot's perception and planning at a cost and capability level that wasn't possible in 2022. That collapses the bottleneck — robot bodies have always been the easier engineering problem; the missing piece was a general-purpose mind.

R2A's variant view: the public-market opportunity in robotics isn't the humanoids — it's the picks and shovels, the established compounders, and the sensor stack underneath. Intuitive Surgical, Symbotic, Rockwell, Trimble, Teradyne, Cognex — these names already have revenue, defensible positions, and meaningful exposure. The humanoid pure-plays (Figure, Apptronik, 1X, Boston Dynamics) are mostly private; when they IPO, the multiples will be aspirational and the entry will be hard. The compounders give exposure to the wave without the binary risk.

The Names

All Buy Hold Humanoids eVTOL Surgical
ISRG
Buy Conviction High
Intuitive Surgical · Surgical Robotics
The compounder the market never gives a discount on. da Vinci 5 expanding TAM, recurring instrument revenue is the moat. R2A's anchor robotics name.
Scenario range
$340$600$720$850
BearBaseBullMoon
Last price$449.60
R2A fair value$600
SYM
Buy Conviction High
Symbotic · Warehouse Automation
Walmart is the anchor customer and that's both the moat and the concentration risk. Backlog visibility extends multiple years; the option is on new customers.
Scenario range
$25$82$130$180
BearBaseBullMoon
Last price$57.22
R2A fair value$82.50
TSLA
Hold Conviction Medium
Tesla · Autonomous Vehicles / Robotics
The autonomy option dwarfs the auto business at the moonshot. But the path is years of execution and the price already reflects that. Holding for now.
Scenario range
$180$290$410$520
BearBaseBullMoon
Last price$390.82
R2A fair value$290
AVAV
Buy Conviction Medium
AeroVironment · Defense Autonomy
The pure-play on defense drones. Ukraine demonstrated the doctrine. The pipeline is real and structural.
Scenario range
$95$250$380$500
BearBaseBullMoon
Last price$167.66
R2A fair value$250
JOBY
Buy Conviction Medium
Joby Aviation · eVTOL
Pre-revenue, but furthest along on FAA certification. Toyota partnership is real. The moonshot is air-taxi economics actually working.
Scenario range
$3$14$22$35
BearBaseBullMoon
Last price$8.74
R2A fair value$14
Private
Figure
Watch Conviction High
Figure AI · Humanoid Robotics
The category leader among humanoid pure-plays. BMW pilot deployment. Most credible commercialization path in the humanoid race.
Scenario range (private)
~$40B~$80B$200B+
BearBaseBullMoon
Last reported~$40B
AccessNot public

Full Coverage

Every name R2A tracks in Autonomous & Robotics. Click any column header to sort.

Ticker Company Call Conviction Last R2A FV Moon
ISRG
Intuitive Surgical
Surgical Robotics
Buy●●● High$449.60$600.00$850
ROK
Rockwell Automation
Industrial Automation
Buy●●● High$443.56$450.00
SYM
Symbotic
Warehouse Automation
Buy●●● High$57.22$82.50$180
TER
Teradyne
Test Equipment + Cobots
Buy●●● High$361.17$427.00
TRMB
Trimble
Positioning / GNSS
Buy●●● High$68.67$87.00
AMBA
Ambarella
Edge AI SoC
Buy●● Medium$71.56$67.00
AVAV
AeroVironment
Defense Autonomy
Buy●● Medium$167.66$250.00$500
CEVA
CEVA
DSP + AI core IP
Buy●● Medium$32.28$37.00
CGNX
Cognex
Machine Vision
Buy●● Medium$58.06$64.00
DE
Deere
Precision Ag/Autonomy
Buy●● Medium$577.44$510.00$680
EMR
Emerson Electric
Industrial Automation
Buy●● Medium$137.46$148.00
GMED
Globus Medical
Spine + Ortho Surgical
Buy●● Medium$89.97$112.00
JOBY
Joby Aviation
eVTOL
Buy●● Medium$8.74$14.00$35
KDK
Kodiak AI
Autonomous Trucking
Buy●● Medium$8.35$11.00
NNDM
Nano Dimension
Additive / 3D Print
Buy●● Medium$1.93$3.00
OUST
Ouster
Lidar
Buy●● Medium$26.45$33.00
PRCT
PROCEPT BioRobotics
Surgical Robotics (BPH)
Buy●● Medium$24.63$28.00
ACHR
Archer Aviation
eVTOL
Hold●● Medium$5.87$9.09$22
AEVA
Aeva Technologies
FMCW Lidar
Hold●● Medium$16.48$20.00
AGCO
AGCO
Ag Equipment / Precision
Hold●● Medium$118.43$128.00
AUR
Aurora Innovation
Autonomous Trucking
Hold●● Medium$6.13$8.50$20
BYDDY
BYD Company
Chinese EV / Battery / AV
Hold●● Medium$13.32$14.50
CAT
Caterpillar
Autonomous Mining
Hold●● Medium$889.81$750.00
EH
EHang Holdings
Autonomous eVTOL (China)
Hold●● Medium$10.15$13.00
EVEX
Eve Holding
eVTOL (Embraer-backed)
Hold●● Medium$2.90$4.50
FANUY
Fanuc
Industrial Robotics
Hold●● Medium$22.16$15.50
INDI
indie Semiconductor
Automotive AI Chips
Hold●● Medium$4.39$5.00
KMTUY
Komatsu
Mining / Construction Eq
Hold●● Medium$42.90$49.00
LCID
Lucid Group
Pre-revenue EV
Hold●● Medium$6.54$8.00
LIDR
AEye
Micro-cap AI Lidar
Hold●● Medium$2.04$3.00
MBLY
Mobileye
ADAS / Autonomous
Hold●● Medium$8.69$11.47
RIVN
Rivian
EV + Autonomy Stack
Hold●● Medium$15.02$18.00
TSLA
Tesla
AV / Robotics
Hold●● Medium$390.82$290.00$520
YASKY
YASKAWA Electric
Industrial Robotics
Hold●● Medium$71.81$72.00
EVTL
Vertical Aerospace
UK eVTOL
Hold●● Low$2.44$2.69
UAVS
AgEagle Aerial Systems
Commercial Drone Micro-cap
Hold●● Low$1.07$1.09
Figure
Figure AI
Humanoid Robotics
Watch●●● High~$40B$200B+
1X
1X Technologies
Humanoid Robotics
Watch●●● High
Apptronik
Apptronik
Humanoid (Apollo)
Watch●●● High
Boston Dynamics
Boston Dynamics (Hyundai)
Humanoid / Quadruped
Watch●●● High
Agility Robotics
Agility Robotics
Humanoid (Digit)
Watch●●● High
Nuro
Nuro
Autonomous Delivery
Watch●●● High
Sanctuary AI
Sanctuary AI
Humanoid (Phoenix)
Watch●●● High
Unitree
Unitree Robotics
Humanoid / Quadruped
Watch●●● High
Zoox
Zoox (Amazon)
Autonomous Mobility
Watch●●● High
ABBNY
ABB Ltd
Industrial Automation
Watch$100.46$95.00
IRBT
iRobot
Consumer Robotics (distressed)
Watch$0.47$0.50
ASXC
Asensus Surgical
Sub-$100M surgical robotics
Sell●●● High$0.24$0.00
MVIS
MicroVision
Micro-cap Lidar
Sell●●● High$0.66$1.22
RBOT
Vicarious Surgical
VR + Dexterity Surgical
Sell●●● High$0.50$0.59
CNHI
CNH Industrial
Agriculture / Construction
Sell●● Medium$10.48$10.00
INVZ
Innoviz Technologies
Lidar (capital structure risk)
Sell●● Low$0.67$1.50