Physical Intelligence Seeks $10 Billion Valuation Despite Zero Revenue, While UiTree's Market Value Fluctuates Post-IPO

Physical Intelligence, a two-year-old US robotics AI startup, is in talks to raise at least $1 billion at a $20 billion valuation despite having no revenue. Meanwhile, UiTree Technology, listed on China's STAR Market in August 2024, saw its market value swing from over 440 billion yuan at debut to around 2.68 trillion yuan as of October 29, 2024. UiTree reported 18.17 billion yuan in revenue for the first three quarters of 2024, a 55.71% increase year-on-year, but its price-to-sales ratio reached approximately 111 times based on annualized figures. Both companies represent the AI model and hardware manufacturing paths in the robotics sector, highlighting the gap between commercial progress and market valuation.