Apptronik raises $520 million to beat Chinese humanoids, Tesla Optimus to market - CNBC
Tesla said it has to ramp up spending to start manufacturing its robots and self-driving cars. But in a recent earnings call, CEO Elon Musk said the Optimus humanoids remain in an early, research and development stage.
Key takeaways
Humanoid robots have moved from laboratory demos to commercial pilots in early 2026, with several high‑profile announcements converging at CES 2026 and across the global market. At the show, Boston Dynamics unveiled a production‑ready version of its Atlas platform and revealed a partnership with DeepMind’s Gemini Robotics AI to boost perception and task execution, while Hyundai, its parent company, pledged to manufacture up to 30 000 units annually by 2028 and to field Atlas in high‑precision sequencing by that year. In parallel, Figure AI’s Figure 02 units have already completed 10‑hour shifts on BMW’s X3 line, supporting 30 000 vehicles and handling 90 000 sheet‑metal parts, and the company secured a billion‑dollar Series C round in September 2025. Tesla’s Optimus remains in an early R&D phase, with training at the Austin Gigafactory still limited to simple tasks. Funding momentum has accelerated dramatically: Apptronik raised $520 million in a valuation‑exceeding‑$5 billion round that includes Google, B Capital, Mercedes‑Benz and the Qatar Investment Authority, positioning the company to mass‑produce its Apollo humanoid at an estimated $80 000 per unit and to target $1 billion in orders by 2027. The same funding wave placed Apptronik among the top three globally funded humanoid firms, alongside Figure AI, after a separate $935 million raise reported in February 2026. Chinese makers are showcasing humanoids as entertainment stars for the Lunar New Year, with Unitree, Agibot, Galbot, Noetix and MagicLab performing on CCTV’s gala and preparing IPOs, while Unitree’s 16‑robot dance troupe from the 2025 gala attracted millions of viewers. New design directions are also emerging. Fauna Robotics introduced Sprout, a compact, safety‑first humanoid built for homes, schools and retail, emphasizing natural movement and trust in human‑shared spaces. Meanwhile, Boston Dynamics demonstrated Atlas performing a backflip combined with a cartwheel, underscoring rapid advances in dynamic locomotion. Finally, researchers at NUS and SMART reported a neural‑blueprint that endows soft‑robotic systems with human‑like intelligence, a breakthrough that could extend to future humanoid platforms for more adaptable, real‑world operation.
Tesla said it has to ramp up spending to start manufacturing its robots and self-driving cars. But in a recent earnings call, CEO Elon Musk said the Optimus humanoids remain in an early, research and development stage.
Cardenas said that within the field of automation, the allure of humanoids is their versatility, which allows "one robot to do thousands of tasks, versus a thousand robots doing a single task." From pilot deployments, Apptronik is able to observe its Apollo in action, gather data from its fleet and use that to refine its systems and the way they work.
The new funding comes after Apptronik locked in a partnership with Google DeepMind and began working with its Gemini Robotics AI models, which underpin Apollo's capabilities. Lora Kolodny@in/lorakolodny/
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Key Points
Humanoid robotics startup Apptronik was valued at $5 billion in a funding round that included capital from Google. The company's Apollo humanoids are being tested in factories and warehouses with partners Mercedes-Benz and GXO Logistics. CEO Jeff Cardenas said Apptronik will use the funding to expand in Austin, Texas, open a new office in California and scale production of its robots.
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Apptronik co-founders (L-R): CTO Nicholas Paine and CEO Jeff Cardenas
Courtesy Apptronik
Apptronik has raised $520 million in funding at a $5 billion valuation as the startup aims to commercialize its humanoid Apollo robots, potentially beating Chinese competitors and Tesla's Optimus to the market. Apptronik will reveal more later this year about what its robots will and won't be able to do, Cardenas said.
Morgan was more forthcoming about his expectations for the company, and said demand for the Apollo is already apparent.He said he expects orders for $1 billion worth of robots starting in 2027, when he hopes the company will be delivering Apollo in high volumes for roughly $80,000 a year, about the price of a luxury car.
"Think about a factory worker doing three or four shifts, and on any weekend," Morgan said. "Eighty-thousand is cheap!"
Morgan also said he expects Apptronik to hire at least another 200 people in the next year, and that the company needed to lock in the new funds now given the excitement around humanoid robotics.
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