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Digital AI firms (chatbots, cloud models, apps built on foundation models) carry very high valuations today. Powerful now, but much of their capability can eventually be copied or commoditized

What would be Physical AI in this case? The hardware and infrastructure needed to run AI models?

Yeah, exactly – like the robots, data centers, and all that hardware powering the models. Digital AI is the software side, but physical stuff's exploding in value right now.

Got it

And yea, it is!

Yeah, the hardware boom is nuts – data centers popping up everywhere. Digital side feels overhyped by comparison.

Physical AI firms (robots, autonomous vehicles, humanoid machines, real-world systems such as Optimus) appear significantly undervalued

  • Currently held back by manufacturing and supply-chain bottlenecks that will take decades to solve at global scale
  • Once those constraints are resolved, physical systems can replace human labor at a fraction of the cost, run 24/7, and have near-zero marginal cost per additional unit

Digital AI ≈ mostly software → easy to copy, intense competition ahead

Physical AI ≈ hardware + software + supply chain → extremely hard to replicate, winner-take-most dynamics