Stats time! Humanoid robot startups raised $8.6B this year. Almost none of them ship robots. The company shipping 44% of the world's humanoids is worth a fraction of the one still running pilots. Here's the humanoid money board, valuation vs what actually shipped: 1. Unitree. ~$53B market cap. $235M revenue in 2025, sells humanoids from $5,900. IPO popped roughly 460% in August. 2. Figure. $39B. A BMW pilot that has handled 90,000+ parts. 3. Skild AI. $14B+. Software only. No robot. 4. 1X Technologies. ~$10B reported. 10,000 preorders for its home robot in 5 days. 5. NEURA Robotics. ~$7B. Roughly a €1B order book. 6. Physical Intelligence. $5.6B, in talks at $11B+. Foundation models, no hardware. 7. Apptronik. ~$5.5B. Mercedes and GXO pilots. 8. UBTech. ~$5.4B. 1,079 humanoids shipped in 2025 to Foxconn, BYD and Airbus. 9. AgiBot. ~$5-6B IPO range. 8,400 units shipped in H1 2026. 44% of the world's humanoid shipments. 10. Galbot. ~$3B+. Autonomous stores in 30+ Chinese cities. 11. Agility Robotics. $2.5B. $300M+ in booked revenue and ~1,000 robots under contract. 12. Fourier. ~$800M. Eldercare humanoids in hospitals. Read it again. Figure is worth 16x Agility. Agility has the booked revenue. And the world's number 1 shipper, AgiBot, is worth about a seventh of the company still in pilot phase. America raises. China ships. The market has not decided which one wins. Valuations as of Aug 26, 2026, per press reports. Estimates and in-talks figures marked on the graphic.