摩根士丹利：2025年人形科技-把握未来报告（英文版）

Transitioning to physical intelligence marks a pivotal chapter inhuman history. The rate of change is incredible, favoring thosebest able to adapt. We expect a humanoids semiconductor TAMof Us$305bn by 2045, comprising key Al processors andsensors, and to delve deeper into the opportunity, we introduceour Humanoids Tech 25 list, highlighting key investmentopportunities as the humanoid story evolves.