Nvidia-Backed Humanoid Maker Agility Goes Public in First for the US

Nvidia-Backed Humanoid Maker Agility Goes Public in First for the US Agility Robotics Inc. is set to become the first dedicated humanoid company to go public in the US, marking a major milestone for the emerging category that still has a lot to prove. The startup begins trading Thursday on Nasdaq under the ticker “AGLT” after merging with special purpose acquisition company Churchill Capital Corp. XI. The company has about $465 million on hand before expenses, including a roughly $201 million public investment in private equity led by Foxconn, Apple Inc.'s main iPhone assembly partner, according to a statement. Other high-profile backers include Nvidia Corp., Amazon.com Inc. and SoftBank Vision Fund 2. Agility is among a crop of companies developing humanoids, human-inspired robots that stand erect and can walk or roll on wheels. So far, these machines have mainly found use in commercial settings such as warehouses and factories. Chinese firm Unitree went public in Shanghai in August, but Agility is the first of its peers to do so in the US. The Oregon-based startup, which has about 400 employees, is expanding a relationship with GXO Logistics Inc. to deploy its robots at more facilities, and is also working on a manufacturing pilot with AGCO Corp. “I think probably the bigger story is what comes next as AI moves beyond the digital world,” Chief Executive Officer Peggy Johnson said in an interview, referring to the ways artificial intelligence is now being implemented in robots and other hardware. “There's a real opportunity to bring intelligent robots to more workplaces, and it's fundamentally going to change what's possible when really machines and people are working together.”