Swarm knowledge/opinions requested.

Have $LYC (-8,39 %) in the portfolio, unfortunately bought too late.

Due to the current development, finally slightly up and now considering selling the position. I don't want it to be a long-term share. I was speculating on a short-term positive upward trend, but unfortunately this was not the case in the second half of the year.

How do you rate the share for the next 3-6 months?

Chart technicians, how do you see the upward breakout scenario and what support on the downside?

Thank you very much for your help

$ARU (-8,07 %)

Arafura Rare Earths (ASX: ARU) - Rare earths project of the future with great potential?

Arafura Rare Earths is an Australian resource developer focused on rare earths, particularly neodymium and praseodymium (NdPr), which are critical for high performance magnets in electric cars, wind turbines, robotics and defense technologies - exactly where the global energy mix is being transformed towards electric mobility and renewable energy.

Core project:

Nolans Project

The Nolans Project in Australia's Northern Territory is the centerpiece of Arafura Rare Earths.

Location & Scope

• Location: approx. 135 km north of Alice Springs
• Resource: around 56 million tons of ore with an average of approx. 2.6% rare earth oxides
• Main objective: Production of NdPr oxides - the most important raw material for high-performance magnets

The project is one of the most advanced rare earth developments outside China.

Integrated value chain

Arafura is planning fully integrated "mine-to-oxide" production - this means that not only mining, but also preparation and chemical processing will take place at the site. This means that the company would not just sell a concentrate, but produce marketable oxides directly. Although this approach increases investment costs, it creates significantly more added value and strategic importance.

Planned production

• Target production: approx. 4,400-4,500 tons of NdPr oxides per year
• Planned mine life: around 35-40 years
• Production start: after final financing and construction phase in the second half of this decade

In full operation, Nolans could cover around 4% of global NdPr demand. In view of the strong dominance of Chinese suppliers in the rare earths sector, this is of considerable geopolitical importance.

Financing and strategic partners

The development of such a project requires investments in the billions. Accordingly, financing was one of the key milestones.

Capital measures

Arafura has carried out extensive capital increases, including a large placement in the region of several hundred million Australian dollars. These measures led to a significant increase in the number of shares and thus to dilution effects for existing shareholders. In the short term, this had a negative impact on the share price, but in the long term it was a necessary step towards project implementation.

Strategic investments

An important signal was the entry of Gina Rinehart via its investment company Hancock Prospectingwhich significantly increased its stake. Such an investment is often interpreted in the market as a sign of confidence in the economic viability of the project.

State support

In addition, Arafura received support from the National Reconstruction Fund Corporationwhich made a substantial investment commitment. The aim is to promote critical mineral projects in Australia and reduce dependence on individual supplier countries.

Market environment: Why NdPr is so crucial

Neodymium and praseodymium are central components of permanent magnets, which are indispensable in the following areas:

• Electric vehicles
• wind turbines
• industrial automation
• defense technology

With the global expansion of renewable energies and electromobility, the demand for high-performance magnets is constantly increasing. At the same time, Western countries are seeking to diversify their supply chains for critical raw materials. This is precisely where Arafura is positioning itself as a potential strategic supplier outside China.

Opportunities

• Strategically extremely important raw material with structural growth in demand
• Project in a politically stable country
• Fully integrated production with higher added value
• Long-term mine life of several decades
• Institutional and government support

If the project is implemented as planned and NdPr prices remain at an attractive level, Arafura has significant upside potential.

Risks

• No operational production yet and therefore no cash flow
• High capital requirements and possible further dilution
• Construction and schedule risks for major projects
• Volatile prices for rare earths
• Competition from established suppliers, particularly from China

Arafura therefore remains a classic project developer with a corresponding opportunity/risk profile. The investment case stands and falls with the successful commissioning of Nolans.

How do you see the opportunities? I am invested and convinced 👍

$LYC (-8,39 %)
$MP (-0,46 %)
$VVMX (-2,56 %)

Let's start with the Rewind. February was quite challenging for High Risk. Sometimes there were only 2-3 days between a clear plus and minus.

In the end, it was enough for a small plus.

Comparison with 2025:

January 2025 + 24%

January 2026 + 12%

February 2025 - 11%

February 2026 + 3%

So the bottom line is almost the same return in the first two months as last year. And the year was not so unsuccessful.

Winner of the month (equities only)

$LYC (-8,39 %) with + 27%

$PPTA (+1,29 %) with + 18%

$GDXJ (+0,36 %) with + 17%

Where there is light, there is also shadow

The losers were:

$FLNC (+0,21 %) - 46%

$LMND (+0,46 %) - 40%

$IREN (+0,02 %) - 28 %

March will certainly not be any easier because of the war. The longer the war lasts, the more Europe and especially Germany and Asia will underperform, as this is where energy prices have the greatest impact.

But that too will pass. I wish you all a sunny day. Go to an ice cream parlor and enjoy the spring instead of looking at your computer every 5 minutes.

Your Chris

Multibagger

We continue with insights into the goings-on of the dividend opi. If you missed the first part, you can find it here: Dividendenopi inside Teil 1 Dividendenopi Rewind2025

As the second part is less about shares, I'll at least start with the rest and the question from @Epi about the Zockeropi. I still have one position each in the, let's say, hidden area of $EKT (+0,73 %) and $NOVO B (-0,12 %) each. Neither trading nor dividend stocks as I see it, so they are bobbing around in the middle of nowhere. Both are currently in negative territory and have a current market value of around €30,000. To be honest, I still don't really know what I'm going to do with them. In my opinion, EKT is still a rock-solid value and clearly undervalued. Despite all my understanding for the delays, which are apparently through no fault of their own, they have to deliver this year. Otherwise I will actually realize the losses, but they are absolutely manageable. And about Novo, well, what more can I say... Ignored the warnings during the high phase and took the crash in its stride. Due to the recovery over the last few days, the share is moderately down by just over 10%. Depending on my mood on the day, however, this could quickly disappear.

And to ensure that my strategy as a whole doesn't get boring and that the gambling child in me is kept in mind so that it doesn't do anything stupid with larger investments, I have turned more intensively to short-term trades since the middle of last year. In June with $DEFI (+4,08 %) and $HIMS (-0,73 %) initial modest successes have encouraged and "hooked" me by, among other things @Multibagger one or two copy trades. My play money is strictly limited to a maximum of 5% of my total capital. I haven't invested that much yet, but despite everything $IREN (+0,02 %) , $CIFR (+1,12 %) and some other trades have brought me nice profits on the side. Most recently I closed yesterday $AII (-0,29 %) closed yesterday with 40% plus. The largest position in the trading portfolio at the moment is again $IREN (+0,02 %) with EK 35€ and a slight plus. The rest, $CA1 (-1,15 %) , $DEFI (+4,08 %) , $LYC (-8,39 %) , $NB (+0,61 %) and $null are not doing so well at the moment, which is why I am currently in the red. I currently have € 20,000 invested there, but the holding period for these shares and the long is also designed for a maximum of 6 months, so I will look again in April.

So far so good.... Now comes the outing and the boring part of my investments, which still make up the majority of the capital invested. Expiring fixed-term deposits have already been and will be put into the market. Due to my age, I tend to be a bit conservative when it comes to choosing my broker and would have a stomach ache with a neo-broker for this amount. For a while I had my investments diversified with S-Broker, ING and Consors. Overnight deposits at various institutions in recent years, where the best new customer offers were available. I'm still hopping and currently have a good €370,000 in call money. The best interest rate for 12 months until mid-26 is with BBVA, where I'm realizing 3.25% thanks to a promotional bonus. Volkswagenbank, Fordbank, Stellantisbank and Renaultbank are always offering special promotions for existing customers with interest conditions to compensate for inflation. The advantage of all the aforementioned banks is the monthly interest payout for regular income, and the trend at the moment is again towards higher offers for new customers of just under 3%, so I will be shifting around a little over the next few days and weeks. Longer-term fixed-term deposits will gradually expire over the next 2 years, where I have conditions from the beginning of 24, e.g. at Kommunal Kredit for 4.5%, the others are between 3.4 and 4.1%. In total, this currently amounts to € 125,000 with annual interest payments for further cash flow.

The third large chunk, and therefore the rest of my capital, is invested in bonds and certificates. More on this in a moment. Where do I have my securities account now? Drum roll... 😇😇At the savings bank, sic!🤷‍♀️ At a large savings bank in the big city around the corner as part of a private banking agreement. I have an all-in-fee that costs really fat fees every year. 1.25% of my average portfolio value p.a. And that's a four-figure sum at the top end. Before everyone faints or thinks I'm out of my depth, a few words of explanation and insight into my decision. I can trade where I want, as much as I want and what I want within the limits of these fees. Of course, I can also pay less for a used small car, but as I mentioned, it's just not for me. One of the reasons I took this route was because of the annual costs I would otherwise incur with ING and S-Broker. Given the trading volumes, that wasn't exactly low either. For me, these costs would have been costs anyway. The decisive advantage, in addition to almost 24-hour all-round support and a personal portfolio manager, lies in trading certificates. I like to use fixed coupon express certificates for cash flow. They are available on many stocks. This year I was / am invested in Siemens, LVMH, BMW, Daimler Truck, Vonovia, Renk, among others. They all had / have interest rates between 6.5% and 9.75%. Latest "deal" a certificate on $R3NK (+1,2 %) on 29.12 with 11.7% and a new one now starting in January with 11.5%. The interest is paid out quarterly on a pro rata basis and makes a not insignificant contribution to my monthly income. I am always offered these certificates for subscription before they are issued, the issue premium is waived as part of my agreement and I receive a large part of the "internal commission" from the savings bank, which is called a customer bonus. I am attaching the statement of my Renk certificate from December 29th to make it easier to understand.

In this case, with an otherwise regular issue price of € 1,010 for a € 1,000 share, I have in any case already "recouped" part of my fees (saved issue premium plus lower subscription price), with other providers and lower interest rates this can be up to 2.5% and more. These express certificates usually come back in the next 6 to 9 months when the early payout levels are reached and I get back the € 1,000 nominal value, plus the interest accrued up to that point. Unfortunately, I have to pay tax on the difference between my cheaper purchase and the nominal value as a profit. The money is then immediately reinvested in corresponding new certificates. This means that I have a regular annual circulation with a corresponding volume, not every certificate is returned, and in total this recoups my fees. Sounds a bit like a milkmaid's calculation, but it works out. We can discuss this in more detail. For now, this is only part of my motivation. However, these certificates are one of the main pillars of my cash flow and are relatively default-proof thanks to downward barriers of 40 to 50%, but of course you have to look at the underlying securities.

Other investments are in capped bonus certificates with a barrier. These offer no ongoing cash flow, but "reward" you with decent returns if they perform well and are particularly suitable for sideways or slightly falling markets. For both variants, it must be said that dividends from the reference stocks are excluded and a strong upward trend in the individual underlying stocks does not lead to overperformance and in the latter case is also limited (capped) or leads to premature liquidation in the case of express certificates. If you keep abreast of the market, the risks are manageable and the maturities are limited to a maximum of 2 years, usually less.

There are other variants of these certificates, if there is interest I would present these in a separate series. They are not performance boosters, but with the right selection they can lead to stability and ongoing cash flow or pre-defined potential price gains even if the markets do not perform as everyone would like.

That's it from my side, I've let my pants down and shown how I, as an old fart with an appropriate amount of capital, try to structure my monthly returns without taking excessive risks and why and how I do it. Perhaps it will help some investors who are not so risk-averse to think about alternatives. I would like to thank everyone who has stuck with me to the end and see you soon. Your Dividend Topi

Hello dear community, hello followers and, of course, anyone else who is interested. Here comes my review of 2025, which you've been waiting for so long. What has crazy Chris actually achieved?

Well, first of all, my monthly overview doesn't really look any different from that of many others here.

There were good and bad months. For me with 9 to 3 it was more positive than last year. The best and worst months in terms of returns were

January + 26.7%

September + 19%

April actually +14%

February - 12.8%

July - 6.6%

December -2.3%

Incidentally, January was also the best month last year and July and December were among the worst.

That reads rather harmlessly here. I would therefore like to show you what impact my strategy can have. At the start of my vacation on 01.09. I had a TTWROR of around 65%. This rose to 123% by mid-October and then fell back to 87% by mid-November. At the time of the GQ Rewind it was back to 99% as you can see above. This was of course disappointing as it was less than last year's 107%! But that is of course complaining at a very high level and not really meant seriously.

In €, and this is what most people here are interested in, it means the following.

Here are the facts that were already in part 2. the calculated target according to the original plan was

8,435 at the end of the calendar year 2025 (does not correspond to my investment year which ends on 31.03.).

13,340 was the multibagger target based on the performance of the previous year.

And this is the result as of today:

19.750,-- € a very good result in my opinion!

This means that as of today (yes, it is only a snapshot of my risk) I have already reached the calculated level for my project of € 3,000 to € 100,000 in 10 years by 31.03.2028, i.e. I have built up a buffer of a good 2.25 years. To be honest, I'm a bit proud of that.

You can disregard the total maturity figures you see in the chart, as I have only been tracking the portfolio with GQ since the beginning of 2025.

Next, I would like to tell you a bit more about how I achieved this outperformance. I have already explained my approach in Part 2.

Top trades were stocks:

$IREN (+0,02 %) with +450% does not appear in Rewind because GQ only takes into account the stocks that are still in the portfolio at the time of creation.

$GPCR with + 188%

$PPTA (+1,29 %) with + 160%

The flop 3 stocks were:

$BNTX (+0,22 %) with - 20%

$IREN (+0,02 %) with -19% after new purchase

$PATH (+0,16 %) with -13%

all 3 loss positions are still running!

Now, of course, many people will think: And this is how he achieves such an excess return? Definitely not. As has already been mentioned several times, the majority of the excess return comes from the derivative trades. In my opinion, these returns cannot be achieved with shares over a period of 10 years. Of course, like me with $IREN (+0,02 %) and some others, but that is the exception rather than the rule.

So now we come to the evaluation of the derivatives:

298 derivative trades were concluded.

Of these

11 x total loss

21 x greater than 100%

4 x greater than 200

2 x greater than 300%

The rest somewhere in between!

But to make you aware of the great risk, I have also taken the trouble to look up the holding period for the top returns. If you then extrapolate the returns achieved to 1 year, this often results in several 1000%!

This requires strong nerves, high leverage and the best possible entry time. So here are the pot flyers:

Derivative on €/SFR 390% in 48 days

United Health 320% in 4 days

Silver 280% in 21 days

App Lovin 216% in 2 days

Novo 186% in 3 days

Vossloh 170% in 6 days

Apple 185% in 13 days

Although the derivatives section only accounts for around a third of my portfolio, it is responsible for at least 60% of the performance.

Outlook for 2026

Calculated target 31.03.26 according to plan: € 9,145

Target multibagger 31.03.2026: € 22,000

Calculated target for calendar year 2026: € 12,230

Target multibagger 31.12.2026: € 29,000, because round figures are simply nicer, I would prefer 30,000, but let's not get cocky.

In addition to the pure figures, I see the following opportunities and risks in 2026. This is purely my subjective assessment, which I will also use as a basis for my investments. In my opinion, it will make sense to achieve a large part of the planned return in the first half of the year, as I see more opportunities there. Why? Because the effects of the new US interest rate and economic policy will not yet be as fully felt in the first half of the year as in the second half.

I therefore see good opportunities in the R-categories next year.

First and foremost commodities. Why? I believe that the escalation in the Caribbean will increase tensions between the USA and China again. The majority of Venezuelan oil exports go to China. The tightening of exports by China announced last week for silver, for example, will continue and rare earths will be the next to come back into play. The US will therefore continue to spend a lot of money to reduce its dependency, as otherwise it will be vulnerable to blackmail in all conflicts with China.

I therefore see great opportunities with $LYC (-8,39 %) and also with $SSW (+1,2 %) both of which I see as possible candidates for US entry.

But my price target of USD 5,000 for gold and above all my price target of USD 120-150 for silver in 2026 also offer excellent opportunities.

The next topic I see is armaments continues to be promising. Regardless of whether there will be peace in Ukraine. (I assume that the war will end soon if Ukraine is defeated) as there is a great danger that the USA will end its intelligence and satellite-based support. Donald Trump has elections next year and urgently needs successes.

However, an end to this war would not change the need for rearmament. The Europeans in particular are not even in a position to implement the security guarantees that are on the table. My best assessment here is in the area of drones and satellites.

I am also confident about data centers (also with their energy supply) and robotics.

As a longer-term tip, I would then focus on the biotechnology sector. For me, this is the area that has the greatest advantage through AI, as the evaluation of study data and thus the timeframe for approval will be massively accelerated. Some interesting candidates have already emerged here recently. For long-term ETF investors, this would also be worth considering.

Let us now turn to the overall economic outlook, which I expect. Even if it is said that political stock markets have short legs, this is more of a good opportunity for traders like me, as volatilities are rising.

I expect a very loose monetary policy in the USA. There will be significantly more than 1 interest rate hike and inflation will not play a role in the decisions. I strongly expect a yield curve control under the new Fed chief in the second half of the year. This will lead to a sharp fall in the US$. I think we will see an exchange rate of at least 1.25 to the euro in the course of the year. This is what the US government wants because it will make it more difficult for European countries, for example, to export to the US. I therefore anticipate below-average growth for export-oriented stocks in Europe. This trend will continue. The upcoming midterms in the USA in November will bring further uncertainty to the market in the second half of the year. There is a threat of a deadlock in the chambers. The foretaste of this will be felt again at the end of January when the next shutdown in the US threatens again.

Finally, I would like to mention a very important situation, which for me primarily affects Danish companies that have a high proportion of US business. First of all, I see the very popular $NOVO B (-0,12 %) . In my opinion, there is a great danger that they will become a pawn in the battle for Greenland. Donald Trump will not go to war with Denmark, but maximum economic pressure to push through his wishes for a deal on Greenland seems very likely to me. In the end, Greenland will continue to belong to Denmark, but the USA will be granted extensive extraction rights there. Everyone should keep an eye on this and find out which US companies could benefit from exploiting the mineral resources there.

So that's it for the review and outlook from my point of view. Nobody knows whether this will happen.

Even if I will still be active here and comment a little, that's it for detailed posts. Of course, the evaluation of the Performance Challenge and the announcement of the winners will follow in the other post.

But to everyone I won't be speaking to, I'd like to wish you a happy new year 2026 with good health and, most importantly, as many personal highlights as possible. Don't forget that enjoying life can also be a great resolution.

With this in mind: All the best, Chris

Trump and Australia have signed a billion-euro agreement on rare earths.

The aim is to reduce dependence on China, which currently controls over 80% of these raw materials.

These metals are the fuel of the future - without them, no AI, no electric car, no chip will work.

The West now wants to mine and process them itself - the battle for raw materials has begun.

$LYC (-8,39 %)
$MP (-0,46 %)
$ARU (-8,07 %)

Trump tariffs live updates: Trump lists top demands on China, signs rare earth deal with Australia https://share.google/OqaFbYNOhV8mg6R2M

Morning community, I am planning to invest in companies that deal with precious metals. Would you say it is still worthwhile after the small boom or would you rather wait for the dip? Examples: $MP (-0,46 %)
$SSW (+1,2 %)
$MTM (-8,13 %)
$LYC (-8,39 %)

Greetings

It's no longer a big secret that commodity stocks make up a large part of my portfolio, as I've often written posts about them.

Right now, the conflict between China and the USA is once again about rare earths for heavy magnets. Trump is threatening 200% tariffs if China does not deliver. One thing is clear: if China does not supply rare earths to the USA, everything in the automotive, technology and defense sectors will come to a standstill in a relatively short space of time. You could say that the 200% tariff would not generate any revenue for the USA, because China would no longer export anything there and, on the other hand, the US economy would come to a standstill in large parts.

I am therefore convinced that the US government will continue to do everything it can to reduce this dependency. The main beneficiaries of this will be

$MP (-0,46 %)

$UUUU (-0,26 %)

$A412UH USA Rare Earth Inc.

and also $LYC (-8,39 %)

Trump's tariff threats fizzle out in China

Asia's stock markets were predominantly negative on Tuesday. While Japan, South Korea and Malaysia are down by up to 0.9%, other markets are little changed. Shenzhen even rose by 0.7 percent. China's stock markets are thus ignoring the latest threats from US President Trump. The previous evening, he threatened the country with tariffs of up to 200% if it did not supply magnetic building blocks made from rare earths.

After my first post on humanoid robots received a lot of positive feedback, I went into more detail. I have subsequently added my favorites in each sector.

Extended analysis of the value chain including shovel manufacturers and potential hidden champions

New categorySecondary key sectors (sales, marketing, financing)

In additionTop 25 companies worldwide, as well as Top 10 Europe and Top 10 Asia

I have also added a video link for beginners. This will give you an idea of how far the development of humanoid robotics has already progressed.

https://www.stern.de/panorama/wissen/humanoider-roboter---wie-reagiert-er-auf-beleidigungen--35996156.html

Thank you for your attention and your support 🙏

🌐 1. value chain of humanoid robots (with hidden champions)

1. research & chip design

$ARM (-5,07 %) ARM (UK) - CPU-IP, energy-efficient processors

$SNPS (+0,81 %) Synopsys (US) - EDA software, chip design

$CDNS (+0,02 %) Cadence (US) - EDA & Simulation

$PTC PTC (US) - Engineering Software, CAD/PLM

$DSY (+0,26 %) Dassault Systèmes (FR) - 3D Design & Digital Twin

$SIE (+3,18 %) Siemens (DE) - Industrial Software & Lifecycle Mgmt

$ADBE (+0,72 %) Adobe (US) - Design, AR/UX

ANSYS (US) - multiphysical simulation - acquisition by Synopsis

Altair (US) - CAE, simulation, digital twin - acquisition by Siemens

$HXGBY (-0,28 %)
Hexagon (SE) - Metrology & Simulation

$AWE Alphawave IP Group (UK) - High-speed chip IP for AI/robotics

1.Synopsis, 2.Siemens and 3.Adobe are my top 3 in this sector

2. manufacturing technology & equipment

$ASML (-0,7 %) ASML (NL) - Lithography (EUV)

$AMAT (+1,49 %) Applied Materials (US) - Semiconductor equipment

$8035 (-1,12 %) Tokyo Electron (JP) - wafer fabrication

$KEYS (+0,45 %) Keysight Technologies (US) - Metrology

$6857 (+1,38 %) Advantest (JP) - Chip test systems

$TER (-0,27 %) Teradyne (US) - test systems + cobots

$6954 (-0,17 %) Fanuc (JP) - Industrial robots, CNC

$CAT (+0,66 %) Caterpillar (US) - autonomous machines

$KU2G KUKA (DE) - industrial robots

Comau (IT) - automation - not listed on the stock exchange

$ROK Rockwell Automation (US) - industrial automation

$JBL (+0,87 %) Jabil (US) - contract manufacturing (EMS/ODM)

$KIT (+0,25 %) Kitron (NO) - European EMS/ODM manufacturer

$AIXA (+3,16 %) Aixtron (DE) - deposition equipment for compound semiconductors

$LRCX (+0,42 %)
Lam Research (US) - Etch/deposition systems

$MKSI (+0,57 %)
MKS Instruments (US) - Plasma/vacuum technology

$ASM (+1,03 %)
ASM International (NL) - Deposition systems

1.ASML, 2.Keysight Technologies, 3.Fanuc are my top 3 in this sector

3. chip manufacturing (foundries)

$TSM (+1,39 %) TSMC (TW) - leading foundry

$SMSN Samsung Electronics (KR) - foundry + memory

$GFS (-0,09 %) GlobalFoundries (US) - specialty chips

$INTC (-3,1 %)
Intel Foundry Services (US) - new western foundry player

$981
SMIC (CN) - largest Chinese foundry

$UMC
UMC (TW) - Power/RF/Embedded chips

1.TSMC, 2.Intel, 3.Samsung Electronics are my top 3 in this sector

4. computing & control unit ("brain")

$NVDA (+1,3 %) Nvidia (US) - GPUs, AI chips

$INTC (-3,1 %) Intel (US) - CPUs, FPGAs

$AMD (-1,56 %) AMD (US) - CPUs, GPUs

$MRVL (+2,91 %) Marvell (US) - Network Chips

$MU (-0,52 %) Micron (US) - Memory

$DELL (-0,01 %) Dell Technologies (US) - Edge & Infrastructure

Graphcore (UK) - AI chips (IPU) - not a listed company

Cerebras (US) - Wafer-scale engine - not a listed company

SiPearl (FR) - European HPC chip - not a listed company

1.Nvidia, 2.Marvell, 3.Micron are my top 3 in this sector

5. sensors ("senses")

$6758 (-3,38 %) Sony (JP) - image sensors

$6861 (-2,3 %) Keyence (JP) - Industrial sensors

$STM (+0 %) STMicroelectronics (FR/IT) - Sensors, MCUs

$TDY Teledyne (US) - optical/infrared sensors

$CGNX (+0,15 %) Cognex (US) - Machine Vision

$HON (+0,26 %) Honeywell (US) - sensor technology, security

ANYbotics (CH) - autonomous sensor fusion - not a listed company

$AMBA (-0,51 %) Ambarella (US) - video & computer vision SoCs for real-time image recognition

$OUST
Velodyne Lidar (US) - Lidar sensors - acquisition by Ouster

$AMS (+0,98 %)
OSRAM (AT/DE) - optical sensors

1.Teledyne, 2.Keyence, 3.Ouster are my top 3 in this sector

6. actuators & power electronics ("muscles")

$IFX (+3,25 %) Infineon (DE) - Power Electronics

$ON (+0,92 %) onsemi (US) - Power & Sensors

$TXN (+0,48 %) Texas Instruments (US) - Mixed-Signal Chips

$ADI (+0,05 %) Analog Devices (US) - Signal Processing

$PH Parker-Hannifin (US) - Hydraulics/Pneumatics

$MP (-0,46 %) MP Materials (US) - Magnets

$APH (+0,48 %) Amphenol (US) - Connectors

$6481 (-0,48 %) THK (JP) - Linear guides & actuators

$6324 (-13,17 %)
Harmonic Drive (JP) - Precision gears & servo drives for robotics

$6594 (+10,16 %)
Nidec (JP) - Electric motors

$6506 (-2,06 %)
Yaskawa (JP) - Drives & Robotics

$SU (+0,61 %)
Schneider Electric (FR) - Energy & control solutions

$ZIL2 (+2,58 %)
ElringKlinger (DE) - Battery & fuel cell technology, lightweight construction

1.Parker-Hannifin, 2.MP Materials, 3.Infinion are my top 3 in this sector

7. communication & networking ("nerves")

$QCOM (-3,07 %) Qualcomm (US) - mobile communications, edge AI

$ANET (+0,67 %) Arista Networks (US) - Networks

$CSCO (+1,18 %) Cisco (US) - Networks, Security

$EQIX (+0,42 %) Equinix (US) - Data centers

NTT Docomo (JP) - 5G/6G carrier - not a listed company

$VZ Verizon (US) - Telecommunications

$SFTBY SoftBank (JP) - Carrier + Robotics

$ERIC B (+2,26 %)
Ericsson (SE) - 5G/IoT infrastructure

$NOKIA (+3,86 %)
Nokia (FI) - 5G/6G for industry

$HPE (-0,19 %)
Juniper Networks (US) - Network technology - acquisition by HP

1.Arista Networks, 2.SoftBank, 3.Cisco are my top 3 in this sector

8. energy supply

$3750 (+0,98 %) CATL (CN) - Batteries

$6752 (+2,86 %) Panasonic (JP) - Batteries

$373220 LG Energy (KR) - Batteries

$ALB (-0,84 %) Albemarle (US) - Lithium

$LYC (-8,39 %) Lynas (AU) - Rare earths

$UMICY (+2,72 %) Umicore (BE) - recycling

WiTricity (US) - inductive charging - not a listed company

$ABBN (+1,02 %) Charging (CH) - charging infrastructure

$SLDP
Solid Power (US) - Solid state batteries

Northvolt (SE) - European batteries - not a listed company

$PLUG
Plug Power (US) - fuel cells

$KULR (-6,22 %)
KULR Technology (US) - Thermal management & battery safety for mobile systems

1.Albemarle, 2.CATL, 3.Panasonic are my top 3 in this sector

9. cloud & infrastructure

$AMZN (+0,09 %) Amazon AWS (US) - Cloud, AI

$MSFT (+0,58 %) Microsoft Azure (US) - Cloud, AI

$GOOG (+0,1 %) Alphabet Google Cloud (US) - Cloud, ML

$VRT
Vertiv Holdings (US) - Data center infrastructure (UPS, cooling, edge)

$ORCL (+0,22 %)
Oracle Cloud (US) - ERP + Cloud

$IBM (+0,67 %)
IBM Cloud (US) - Hybrid cloud + AI

$OVH (-0,33 %)
OVHcloud (FR) - European cloud

1.Alphabet, 2.Microsoft, 3.Oracle are my top 3 in this sector

10. software & data platforms

$PLTR (+0,27 %) Palantir (US) - Data integration

$DDOG (+0,8 %) Datadog (US) - Monitoring

$SNOW (+0,54 %) Snowflake (US) - Data Cloud

$ORCL (+0,22 %) Oracle (US) - Databases, ERP

$SAP (+0,33 %) SAP (DE) - ERP systems

$SPGI S&P Global (US) - financial/market data

ROS2 Foundation - robotics middleware - not listed on the stock exchange

$NVDA (+1,3 %) NVIDIA Isaac (US) - robotics development - part of Nvidia

$INOD (+0,65 %) Innodata (US) - data annotation & AI training data

$PATH (+0,16 %)
UiPath (RO/US) - Robotic process automation

$AI (+0,18 %)
C3.ai (US) - AI platform

$ESTC (+0,84 %)
(NL/US) - Search & data analysis

1.S&P Global, 2.Palantir, 3.Datadog are my top 3 in this sector

11. end applications / robots

$ABBN (+1,02 %) ABB (CH/SE) - Industrial Robots

$6954 (-0,17 %) Fanuc (JP) - Industrial robots

$TSLA (+0,96 %) Tesla Optimus (US) - humanoid robot

$9618 (-1,54 %) JD.com (CN) - logistics robot

$AAPL (+0,69 %) Apple (US) - Platform & UX

$700 (-2,21 %) Tencent (CN) - Platform & AI

$9988 (-2,46 %) Alibaba (CN) - logistics & platform

PAL Robotics (ES) - humanoid robots - not a listed company

Neura Robotics (DE) - cognitive humanoid robots - not a listed company

$TER (-0,27 %) Universal Robots (DK) - cobots - belongs to the Teradyne Corporation

Engineered Arts (UK) - humanoid robots - not a listed company

$ISRG (-0,12 %) Intuitive Surgical (US) - surgical robotics

$GMED (+0,82 %)
Globus Medical (US) - surgical robotics (ExcelsiusGPS platform)

$7012 (-6,46 %) Kawasaki Heavy Industries (JP) - industrial robots, automation

$CPNG (+0,24 %) Coupang (KR) - Logistics end user

$IRBT
iRobot (US) - consumer robotics (e.g. Roomba), non-humanoid, but navigation/sensor fusion

Boston Dynamics (US) - humanoid & mobile robots-no listed company

Hanson Robotics (HK) - humanoid robots (Sophia) - not a listed company

Agility Robotics (US) - humanoid robot "Digit" - not a listed company

1.Apple, 2.Tencent, 3.Alibaba are my top 3 in this sector

🛠 2. cross enablers (shovel manufacturers) - with hidden champions

Raw materials & battery materials

Albemarle - Lynas - Umicore

$SQM
SQM (CL) - Lithium

$ILU (-3,14 %)
Iluka Resources (AU) - Rare earths

$ARR (+7,53 %)
American Rare Earths (US/AU) - New supply chains

my number 1 in the sector is Albemarle

manufacturing technology

ASML - Applied Materials - Tokyo Electron

$LRCX (+0,42 %)
Lam Research (US) - Plasma/etching processes

$ASM (+1,03 %)
ASM International (NL) - ALD equipment

$MKSI (+0,57 %)
MKS Instruments (US) - Plasma/vacuum technology

my number 1 in the sector is ASML

Quality assurance

Keysight - Advantest - Teradyne

$EMR (+0,81 %)
National Instruments (US) - Measurement technology - from Emerson Electric adopted

$300567
ATE Test Systems (CN) - test systems

$FORM (-0,41 %)
FormFactor (US) - Wafer probing

my number 1 in the sector is Keysight

Motion & Drive

Parker-Hannifin

Festo (DE) - Pneumatics, Soft Robotics - not a listed company

Bosch Rexroth (DE) - Drives, Controls - not a listed company

$6481 (-0,48 %)
THK (JP) - Linear guides

my number 1 in the sector is Parker-Hannifin

Sensors/Imaging

$TDY Teledyne

$BSL (-3,22 %) Basler (DE) - Industrial cameras

FLIR (US) - Thermal imaging sensors - acquisition by Teledyne

ISRA Vision (DE) - Machine Vision - not a listed company

my number 1 in the sector is Teledyne

Magnets & Materials

MP Materials

$6501 (-1,46 %)
Hitachi Metals (JP) - Magnetic materials

VacuumSchmelze (DE) - Magnetic materials - not a listed company

$4063 (+1,06 %)
Shin-Etsu Chemical (JP) - Specialty materials

my number 1 in the sector is MP Materials

Chip Design & Simulation

Synopsys - Cadence - ARM

$SIE (+3,18 %)
Siemens EDA (DE/US)-Mentor Graphics-strategic business unit of Siemens AG

Imagination Tech (UK) - GPU-IP - not a listed company

$CEVA (-0,91 %)
CEVA (IL) - Signal Processor IP

my number 1 in the sector is Synopsys

Engineering & Lifecycle

PTC - Dassault - Siemens

Altair (US) - Simulation - no longer a listed company

$HXGBY (-0,28 %)
Hexagon (SE) - Metrology

$SNPS (+0,81 %)
ANSYS (US) - Simulation - takeover by Synopsys

my number 1 in the sector is Siemens

Networks & Data Centers

Arista - Cisco - Equinix

$HPE (-0,19 %)
Juniper (US) - Networks - Acquisition of HPE

$DTE (-1,27 %)
T-Systems (DE) - Industry cloud

$OVH (-0,33 %)
OVHcloud (FR) - European cloud

my number 1 in the sector is Arista

Cloud infrastructure

AWS - Azure - Google Cloud

$ORCL (+0,22 %)
Oracle Cloud (US) - ERP & databases

$IBM (+0,67 %)
IBM Cloud (US) - Hybrid Cloud

$9988 (-2,46 %)
Alibaba Cloud (CN) - Asian Cloud

$VRT
Vertiv Holdings (US) - Cloud/Infra

my number 1 in the sector is Alphabet (Google)

finance/information infra

S&P Global

$MCO (+0,94 %)
Moody's (US) - Ratings

$MSCI (-0,12 %)
MSCI (US) - Indices

$MORN
Morningstar (US) - Investment Research

my number 1 in the sector is S&P Global

Creative/Experience Infra

Adobe

$ADSK (+0,34 %)
Autodesk (US) - CAD & Design

$U
Unity (US) - 3D/AR simulation

Epic Games (US) - Unreal Engine - not a listed company

my number 1 in the sector is Adobe

Platform & Ecosystem

Apple - Tencent - Alibaba

$META (+0,7 %)
Meta (US) - AR/VR, Social Robotics

ByteDance (CN) - AI & platforms - not a listed company

$9888 (-4,21 %)
Baidu (CN) - AI & Cloud

my number 1 in the sector is Tencent

Infrastructure/Edge

Dell

$HPE (-0,19 %)
HPE (US) - Edge Computing

$SMCI
Supermicro (US) - AI servers

$6702 (-3,72 %)
Fujitsu (JP) - Edge & HPC

my number 1 in the sector is Dell

storage solutions

Micron

$HY9H
SK Hynix (KR) - Memory

$285A (-4,46 %)
Kioxia (JP) - NAND

$WDC
Western Digital (US) - Storage solutions

my number 1 in the sector is Micron

🏛 3. secondary key sectors with hidden champions

Financing & Capital

$GS (+0,64 %) Goldman Sachs (US) - investment bank; ECM/DCM, M&A, growth financing

$MS Morgan Stanley (US) - investment bank; tech banking, capital markets

$BLK (+0,13 %) BlackRock (US) - asset manager; capital allocation, ETFs/index funds

$9984 (-7,69 %) SoftBank Vision Fund (JP) - mega VC; growth equity in robotics/AI

Sequoia Capital (US) - venture capital; early/growth in AI/robotics - this is a classic venture capital fund

DARPA (US) - government R&D funding (robotics/defense) - independent research and development agency

EU Horizon (EU) - research funding/grants for DeepTech - Innovative Europe pillar

China State Funds (CN) - state industry/technology fund

Lux Capital (US) - VC for DeepTech - Uptake (US) - AI-based predictive maintenance

DCVC (US) - Robotics & AI focus - investing exclusively via VC fund investments

Speedinvest (AT) - EU VC for robotics - access to investment only via fund investments

my number 1 in the sector is Softbank

Maintenance & Service

$SIE (+3,18 %) Siemens (DE) - Industrial Service, Lifecycle & Retrofit

$ABBN (+1,02 %) ABB (CH/SE) - Robotics Service, Spare Parts, Field Support

$GEHC (+0,48 %) GE Healthcare (US) - Medtech service incl. robotic systems

Uptake (US) - AI-based predictive maintenance - not a listed company

Augury (US/IL) - condition monitoring, condition diagnostics - not a listed company

$KU2 KUKA Service (DE) - Robotics maintenance

$6954 (-0,17 %) Fanuc Service (JP) - global service network

Boston Dynamics AI Institute (US) - Robotics longevity - funded by Hyundai Motor Group

my number 1 in the sector is Siemens

Marketing & Advertising

$WPP (+0,84 %) WPP (UK) - global advertising group; branding/communications

$OMC Omnicom (US) - marketing/PR network

$PUB (+0,7 %) Publicis (FR) - communications/advertising group

$META (+0,7 %) Meta (US) - Digital Ads (Facebook/Instagram)

$GOOG (+0,1 %) Google Ads (US) - search & display advertising

TikTok / ByteDance (CN) - social ads & distribution - not a listed company

$AAPL (+0,69 %) Apple (US) - Branding/UX; Acceptance & Platform Marketing

$WPP (+0,84 %)
AKQA (UK/US) - Tech branding - Since 2012 majority owned by the WPP Groupbut continues to operate as an autonomous operating unit

R/GA (US) - Innovation marketing - not a listed company

Serviceplan (DE) - largest independent EU agency - not a listed company

my number 1 in the sector is Meta

Law, Regulation & Ethics

ISO (CH) - international standards, robotics standards

TÜV (DE) - certification & safety tests

UL (US) - safety/conformity testing

EU AI Act (EU) - legal framework for AI & robotics

UNESCO AI Ethics (UN) - global ethics guidelines

Fraunhofer IPA (DE) - Robotics safety standards

ANSI (US) - standards

IEC (CH) - Electrical engineering standards

Training & Talent

MIT (US) - Robotics/AI Research & Education

ETH Zurich (CH) - autonomous systems & robotics

Stanford (US) - AI/Robotics labs & spin-offs

Tsinghua University (CN) - Robotics/AI in Asia

CMU (US) - Robotics Institute

EPFL (CH) - Robotics research

TU Munich (DE) - humanoid robot "Roboy"

🌍 Top 25 companies for humanoid robotics

These companies are central to the development & production of humanoid robotsbecause without them, crucial parts of the chain would be missing:

Chips & computing power (brain of the robots)

$NVDA (+1,3 %) Nvidia (US) - AI GPUs & Isaac platform, foundation for robotic AI

$2330 TSMC (TW) - world's most important foundry, produces the AI chips

$ASML (-0,7 %) ASML (NL) - EUV lithography, indispensable for chip production

$005930 Samsung Electronics (KR) - memory, logic, foundry

$HY9H SK Hynix (KR) - DRAM & NAND memory for AI

$MU (-0,52 %) Micron (US) - Memory solutions for AI workloads

my number 1 in the sector is ASML

Sensors & perception (senses of robots)

$SONY Sony (JP) - image sensors, market leader

$6861 (-2,3 %) Keyence (JP) - Industrial sensors & vision systems

$CGNX (+0,15 %) Cognex (US) - Machine Vision, precise image processing

my number 1 in the sector is Keyence

Actuators & motion (muscles of robots)

$IFX (+3,25 %) Infineon (DE) - power electronics, motor control

$6594 (+10,16 %) Nidec (JP) - World market leader for electric motors

$PH Parker-Hannifin (US) - hydraulics/pneumatics, motion technology

$6481 (-0,48 %) THK (JP) - Linear guides & actuators

my number 1 in the sector is Parker-Hannifin

Communication, cloud & infrastructure (nerves & data flow)

$QCOM (-3,07 %) Qualcomm (US) - Mobile & Edge Chips

$AMZN (+0,09 %) Amazon AWS (US) - Cloud & AI infrastructure

$MSFT (+0,58 %) Microsoft Azure (US) - Cloud, AI services

$CSCO (+1,18 %) Cisco (US) - Networks & Security

$VRT Vertiv Holdings (US) - Data Center Infrastructure

my number 1 in the sector is Microsoft

End Applications & Platforms (robots themselves)

$TSLA (+0,96 %) Tesla (US) - humanoid robot Optimus

$ABBN (+1,02 %) ABB (CH/SE) - Robotics & Automation

$6954 (-0,17 %) Fanuc (JP) - industrial robots & CNC systems

$7012 (-6,46 %) Kawasaki Heavy Industries (JP) - industrial robots

PAL Robotics (ES) - humanoid robots (TALOS, ARI, TIAGo) - not a listed company

Neura Robotics (DE) - cognitive humanoid robots - not a listed company

Universal Robots (DK) - cobots

my number 1 in the sector is Tesla

🇪🇺 Top 10 European key companies for humanoid robotics

$ASML (-0,7 %)
ASML (NL)

World market leader in EUV lithography - no modern chips for AI & robotics without ASML.

$IFX (+3,25 %) Infineon (DE)

Leading in power electronics & motor control - crucial for actuators of humanoid robots.

$STM (+0 %)
STMicroelectronics (FR/IT)

Sensors, microcontrollers & power chips - the basis for control & perception.

$SAP (+0,33 %)
SAP (DE)

ERP & data platforms, important for integrating humanoid robots into industrial processes.

$SIE (+3,18 %)
Siemens (DE)

Industrial software, automation, digital twin - key for engineering & lifecycle management.

$KU2 KUKA (EN)

Robotics pioneer, industrial robots & automation - know-how for humanoid motion mechanics.

PAL Robotics (ES) - not a listed company

Specialist for humanoid robots (TALOS, ARI, TIAGo), internationally used in research & service.

Neura Robotics (DE) - Not a listed company

Young high-tech company, develops cognitive humanoid robots with advanced AI (4NE-1).

Universal Robots (DK) - Not a listed company

Market leader for cobots - platform for safe human-robot collaboration.

Engineered Arts (UK) - not a listed company

Develops humanoid robots such as Amecaknown for realistic facial expressions & gestures - important for HRI (Human-Robot Interaction)

🌏 Top 10 Asian key companies for humanoid robotics

$2330
TSMC (Taiwan)

World's largest semiconductor foundry, produces high-end chips (e.g. Nvidia, AMD, Apple) - no AI hardware without TSMC.

$005930
Samsung Electronics (South Korea)

Foundry, memory, logic chips, image sensors - extremely broadly positioned in robotics components.

$HY9H
SK Hynix (KR) - Memory

$SONY
Sony (Japan)

Market leader in CMOS image sensors, essential for robotic vision & perception.

$6861 (-2,3 %)
Keyence (Japan)

Sensor technology & machine vision for industrial automation, widely used in robotics.

$6954 (-0,17 %)
Fanuc (Japan)

Industrial robots & CNC systems, one of the most important manufacturers of robotics hardware worldwide.

$6506 (-2,06 %)
Yaskawa Electric (Japan)

Drives, motion control & robot arms - relevant for humanoid motion control.

$6594 (+10,16 %)
Nidec (Japan)

World market leader for electric motors (from mini motors to high-performance drives).

$7012 (-6,46 %)
Kawasaki Heavy Industries (JP) - Industrial robots

$9618 (-1,54 %)
JD.com (China)

Driver for robotics in e-commerce & logistics, invests in humanoid robotics applications

The hype is all about humanoid robots, but the constant winners are in the background.

I have divided the analysis into two perspectives. 1. the complete value chain of humanoid robots, which shows all the players from the chip to the finished robot, and 2. the blade manufacturers in the background, who always earn money as enablers, regardless of which manufacturer wins the race.

ASML, Applied Materials and Tokyo Electron dominate in manufacturing technology. Quality assurance comes from Keysight, Advantest and Teradyne. Chip design is supported by Synopsys, Cadence and ARM. Data streams are secured by Arista Networks, Cisco and Equinix. The computing basis is created in the cloud by Amazon, Microsoft and Alphabet. Albemarle, Lynas and Umicore play a central role in raw materials and battery materials. These companies monetize their customers' investment waves, have high barriers to entry, service revenues and pricing power, but remain cyclical with risks from export rules, capex cuts and currency movements.

🌐 Value chain of humanoid robots Sector overview

1. research & chip design (IP / EDA)

$ARM (-5,07 %)
ARM Holdings (ARM, UK/USA) - CPU architectures

$SNPS (+0,81 %)
Synopsys (SNPS, USA) - Chip design software

$CDNS (+0,02 %)
Cadence Design Systems (CDNS, USA) - EDA & Simulation

2. manufacturing technology & equipment

$ASML (-0,7 %)
ASML (ASML, NL) - EUV lithography, key monopoly

$AMAT (+1,49 %)
Applied Materials (AMAT, USA) - Process equipment

$8035 (-1,12 %)
Tokyo Electron (8035.T, JP) - Wafer equipment

$KEYS (+0,45 %)
Keysight Technologies (KEYS, USA) - Test & RF measurement technology

$6857 (+1,38 %)
Advantest (6857.T, JP) - Semiconductor test systems

$TER (-0,27 %)
Teradyne (TER, USA) - Test systems + robotics (Universal Robots)

3. chip production (Foundries)

$TSM (+1,39 %)
TSMC (TSM, TW) - Largest contract manufacturer

$005930
Samsung Electronics (005930.KQ, KR) - Memory + Foundry

$GFS (-0,09 %)
GlobalFoundries (GFS, USA) - Specialized production

4. computing & control unit ("brain")

$NVDA (+1,3 %)
Nvidia (NVDA, USA) - GPUs, AI accelerators

$INTC (-3,1 %)
Intel (INTC, USA) - CPUs, FPGAs

$AMD (-1,56 %)
AMD (AMD, USA) - CPUs/GPUs

$MRVL (+2,91 %)
Marvell Technology (MRVL, USA) - Network/data center chips

5. sensors ("senses")

$6758 (-3,38 %)
Sony (6758.T, JP) - CMOS image sensors

$6861 (-2,3 %)
Keyence (6861.T, JP) - Vision systems, sensors

$STM (+0 %)
STMicroelectronics (STM, CH/FR) - MEMS sensors

6. actuators & power electronics ("muscles")

$IFX (+3,25 %)
Infineon (IFX, DE) - Power semiconductors, SiC

$ON (+0,92 %)
N Semiconductor (ON, USA) - SiC/Power Chips

$STM (+0 %)
STMicroelectronics (STM, CH/FR) - Motor control & power

$TXN (+0,48 %)
Texas Instruments (TXN, USA) - Motor control, power ICs

$ADI (+0,05 %)
Analog Devices (ADI, USA) - Energy & BMS chips

7. communication & networking ("nerves")

$QCOM (-3,07 %)
Qualcomm (QCOM, USA) - 5G/SoCs

$AVGO (+0,1 %)
Broadcom (AVGO, USA) - Network & radio chips

$SWKS (-0,21 %)
Skyworks Solutions (SWKS, USA) - RF components

8. energy supply

$300750
CATL (300750.SZ, CN) - Batteries

$6752 (+2,86 %)
Panasonic (6752.T, JP) - Batteries for automotive/robotics

$373220
LG Energy Solution (373220.KQ, KR) - Batteries

9. cloud & infrastructure

$AMZN (+0,09 %)
Amazon (AMZN, USA) - AWS

$MSFT (+0,58 %)
Microsoft (MSFT, USA) - Azure

$GOOG (+0,1 %)
Alphabet (GOOGL, USA) - Google Cloud

$EQIX (+0,42 %)
Equinix (EQIX, USA) - Data center operator

$ANET (+0,67 %)
Arista Networks (ANET, USA) - Network infrastructure

$CSCO (+1,18 %)
Cisco Systems (CSCO, USA) - Edge & Data Center Networks

10. software & data platforms

$PLTR (+0,27 %)
Palantir (PLTR, USA) - Data integration, decision software

$DDOG (+0,8 %)
Datadog (DDOG, USA) - Cloud monitoring / observability

$SNOW (+0,54 %)
Snowflake (SNOW, USA) - Cloud-native data platform

$ORCL (+0,22 %)
Oracle (ORCL, USA) - Databases, ERP

$SAP (+0,33 %)
SAP (SAP, DE) - ERP/cloud systems

$PATH (+0,16 %)
UiPath (PATH, USA) - Automation software (RPA)

$AI (+0,18 %)
C3.ai (AI, USA) - Enterprise AI platform

11. end applications / robots

$ABB
ABB (ABB, CH) - Industrial robots

$6954 (-0,17 %)
Fanuc (6954.T, JP) - Industrial robots, CNC

$TSLA (+0,96 %)
Tesla (TSLA, USA) - Optimus" humanoid robot

$9618 (-1,54 %)
JD.com (JD, CN) - E-commerce & automated logistics

🛠️ Shovel manufacturer for humanoid robots

🔹 Hardtech (physical "shovels")

These companies provide the material basis: manufacturing machines, raw materials, semiconductor base.

Semiconductor Equipment & Manufacturing

$ASML (-0,7 %)
ASML (ASML, NL) - EUV lithography (monopoly).

$AMAT (+1,49 %)
Applied Materials (AMAT, USA) - Wafer equipment.

$8035 (-1,12 %)
Tokyo Electron (8035.T, JP) - Process equipment.

Test systems (hardware-side)

$6857 (+1,38 %)
Advantest (6857.T, JP) - Semiconductor test.

$TER (-0,27 %)
Teradyne (TER, USA) - Test systems + industrial robots.

Materials & raw materials

$ALB (-0,84 %)
Albemarle (ALB, USA) - Lithium (batteries).

$LYC (-8,39 %)
Lynas Rare Earths (LYC.AX, AUS) - Rare earths for magnets.

$UMICY (+2,72 %)
Umicore (UMI.BR, BE) - Cathode materials, recycling.

🔹 Soft/infra (digital "shovels")

These companies supply the infrastructure & toolswithout which development, training and operation would be impossible.

Design Software & IP

$SNPS (+0,81 %)
Synopsys (SNPS, USA) - EDA software.

$CDNS (+0,02 %)
Cadence Design Systems (CDNS, USA) - Chip design & simulation.

$ARM (-5,07 %)
ARM Holdings (ARM, UK/USA) - CPU architectures (license model).

Test & Measurement (software/signal level)

$KEYS (+0,45 %)
Keysight Technologies (KEYS, USA) - Electronics & RF test systems.

Network & data center backbone

$ANET (+0,67 %)
Arista Networks (ANET, USA) - High-speed networks.

$CSCO (+1,18 %)
Cisco Systems (CSCO, USA) - Data center/edge networks.

$EQIX (+0,42 %)
Equinix (EQIX, USA) - Data centers (colocation).

Cloud infrastructure

$AMZN (+0,09 %)
Amazon (AMZN, USA) - AWS (cloud, AI training).

$MSFT (+0,58 %)
Microsoft (MSFT, USA) - Azure.

$GOOG (+0,1 %)
Alphabet (GOOGL, USA) - Google Cloud.

Takeaway: Investing in the infrastructure stack allows you to participate in the robotics trend regardless of the subsequent product winner and reduces the individual product risk, but you have to live with cycles. In your opinion, which stage of the chain offers the best risk/return combination and fits into a disciplined portfolio?

Source: Own analysis based on publicly available company information and IR materials of the companies mentioned.

Image material: Techa Tungateja/iStockphoto